GRM Overseas Finalises Rs 86 Cr Warrant Conversion & 2:1 Bonus Share Allotment; Check Full Details Here

GRM Overseas Limited informed the stock exchanges about the outcome of its Board of Directors' meeting held on Friday, February 6, 2026.

Considering the disclosure relates to the conversion of warrants and the preferential allotment of equity shares, the stock will be the subject of attention in the upcoming session. The conversion of the remaining convertible warrants that were initially issued on August 8, 2024, was authorized by the Board.

At that time, the organization had issued 90.70 lakh convertible warrants, each convertible into one equity share with a face value of Rs 2, at an issue price of Rs 150 apiece. At the time of allotment, the allottees had paid a total of Rs 34.01 crore, or 25% of the issue price, or Rs 37.50 per warrant.

Following board approval on May 28, 2025, 13.52 lakh of the total warrants had already been converted into equity shares. The remaining 75% of the issue price, or Rs 112.50 per warrant, for the remaining 77.18 lakh warrants has already been paid to the firm. Due to the exercise of their conversion rights, 21 warrant holders contributed a total of Rs 86.82 crore.

As a result of the conversion of these warrants, the Board authorized the issuance of 77.18 lakh equity shares with a face value of Rs 2 each. Furthermore, in accordance with the bonus issue previously authorized by shareholders, the Board likewise authorized the allotment of bonus equity shares to these allottees.

At its Extraordinary General Meeting on December 9, 2025, GRM Overseas authorized a bonus issue in the ratio of 2:1, which means that for every existing equity share, two additional fully paid-up equity shares were issued. As a result, the eligible warrant allottees received an additional 1.54 crore equity shares.

The company issued 2.31 crore equity shares with this combined allotment, comprising shares from the bonus issue and warrant conversion. After the allocation was made, GRM Overseas' paid-up equity share capital grew from Rs 36.81 crore, which included 18.40 crore equity shares, to Rs 41.44 crore, which included 20.72 crore equity shares with a face value of Rs 2 each. The newly allotted shares will rank pari passu with the existing equity shares of the company.

Since all 90.70 lakh warrants have been converted into equity shares, the corporation further stated that there are no more warrants that need to be converted. According to the firm, the list of allottees consists of both promoter and non-promoter entities, including Forbes EMF, Coeus Global Opportunities Fund, Atul Garg, Mamta Garg, Singularity Equity Fund I, and a number of institutional and individual investors.

Among the promoter category allottees, Atul Garg and Mamta Garg converted 5,50,000 warrants each, resulting in the allotment of 16,50,000 equity shares to each, including bonus shares. Each contributed Rs 6.18 crore as the balance conversion amount. Hukam Chand Garg, also a promoter, converted 1,08,000 warrants and received a total of 3,24,000 equity shares, including bonus entitlement, with an amount of Rs 1.21 crore received by the company.

A broad range of individual investors, LLPs, corporates, and funds participated in the non-promoter category. Aarson Investments and Dipak Raheja each converted 1,53,000 warrants and received 4,59,000 equity shares, including bonus shares, while Kaushal Bharat Ruparel converted 30,000 warrants, resulting in the allotment of 90,000 equity shares. While Neeraj Pahlajani and Amit R. Agarwal each converted 72,000 warrants and earned 2,16,000 equity shares, Deekay Investments converted 36,000 warrants and received 1,08,000 equity shares.

Brescon Aurum Private Limited converted 2,00,000 warrants among institutional and corporate investors, which led to the distribution of 6,00,000 equity shares. 1,62,000 equity shares and 54,000 warrants were converted by Singhvi Heritage LLP. Each of Nirmal Gupta, Atul Ramanlal Shah, NVS Corporate Consultancy Services Private Limited, Anahaita Nalin Shah, and Nupur Mahipal received 3,00,000 equity shares, including bonus entitlement, for converting 1,00,000 warrants.

Large fund participation was seen from FORBES EMF and Coeus Global Opportunities Fund, with both entities converting 20,00,000 warrants each. This resulted in the allotment of 60,00,000 equity shares to each fund, including bonus shares, with Rs 22.50 crore received from each investor.

While Nipun Jain and Archit Garg converted 30,000 and 40,000 warrants, respectively, and earned 90,000 and 1,20,000 equity shares, Singularity Equity Fund I converted 11,70,000 warrants and received 35,10,000 equity shares.

The conversion of 77,18,000 warrants resulted in the allotment of 77,18,000 equity shares. Additionally, 1,54,36,000 equity shares were issued as part of the 2:1 bonus issue, increasing the total number of equity shares awarded to 2,31,54,000 shares. 75 per cent of the issue price per warrant, or Rs 86.82 crore, was the total amount that the company got via warrant conversion.

GRM Overseas Ltd.'s share price ended the most recent trading session on Friday, February 6, 2026, at Rs 162.98 on the NSE. The intraday high and low of the stock were Rs 166.60 and Rs 158.76, respectively. The company completed a 2:1 bonus issue in December 2025, distributing more than 12.27 crore equity shares to the eligible shareholders. The stock, which has shot up by more than 111% in the last year, has produced outstanding long-term gains for the shareholders.