GRM Overseas picks 44% stake in Swmabhan Commerce, the parent firm of Virat Kohli-backed Rage Coffee

GRM Overseas, which deals in basmati rice exports, announced on Wednesday, August 28, that it had acquired a 44 per cent stake in Swmabhan Commerce Pvt Ltd, the parent company of Virat Kohli-backed digital-first coffee brand Rage Coffee.

In an exchange filing on August 28, GRM Overseas said, “...we would like to inform you that the GRM Overseas has announced a strategic investment in Swmabhan Commerce Pvt Ltd, acquiring a 44 per cent equity stake through primary infusion and secondary buyouts. Swmabhan Commerce Pvt Ltd owns Rage Coffee, a rapidly growing digital-first FMCG brand that has captured a significant share of India’s booming coffee market.”

GRM Overseas is an Indian FMCG company with a diversified product portfolio including rice, wheat flour, spices, edible oil and other food products.

Rage Coffee is a digital-first, health-focused coffee brand. It caters to both mass-market and premium segments, offering a wide range of coffee products.

According to the company's exchange filing, Rage Coffee, co-owned by Bharat Sethi, Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli and actor Rannvijay Singha, has rapidly become a favourite among new-age consumers.

"Known for its innovative in-house blending processes and patented packaging, the brand offers a wide range of coffee products, including instant coffee in freeze-dried, spray-dried, and agglomerated forms, as well as whole beans, ground coffee, and ready-to-drink beverages," said the company.

"This strategic investment in Rage Coffee aligns perfectly with our vision to drive growth in digital-first, health-focused, and lifestyle brands. We see enormous potential in expanding Rage Coffee’s presence in the domestic market and leveraging synergies with our established export markets," said Atul Garg, Managing Director of GRM Overseas.

"With GRM, we have found a partner that not only understands our mission but also complements our strengths with their extensive distribution network, corporate capabilities, and deep industry expertise. Together with GRM, under the leadership of Atul Garg, we will achieve even greater heights and create lasting value for all our stakeholders," said Bharat Sethi, Founder & CEO of Rage Coffee.

GRM Overseas's share price has risen by 40 per cent over the last year. The stock hit its 52-week low of ₹114.15 on March 13 this year but has been rising since. It hit its 52-week high of ₹286.15 on August 19 this year.

The stock traded 0.48 per cent lower at ₹267.80 around 12:15 pm on the BSE.

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