GRM Overseas share price jumps 10% after announcement of fundraise

  • GRM Overseas share price today opened upside at 179.90 and touched an intraday high of 189.90 on NSE

Asit Manohar
Updated18 Jun 2024, 03:01 PM IST
The board of directors of the small-cap company will discuss fundraise proposal in its meeting scheduled on 22nd June 2024.
The board of directors of the small-cap company will discuss fundraise proposal in its meeting scheduled on 22nd June 2024.(Photo: iStock)

Stock market today: GRM Overseas share price witnessed a substantial upside during Tuesday's deals. GRM Overseas share price today opened with an upside gap at 179.90 per share and touched an intraday high of 189.90 per share on NSE, recording more than a 10 percent rise against Monday's close price of 171.46 per share. The small-cap agri company's board has declared it will fundraise by issuing fresh shares preferentially.

GRM Overseas fundraise details

The small-cap company informed stock market exchanges about the fundraising decision, saying, “The notice is at this moment given that a meeting of the Board of Directors of the Company will be held on Saturday, June 22, 2024, inter alia to consider and approve the proposal of raising funds by way of preferential issue of securities to the person belonging to the promoter/promoter group/ Non-promoter group category subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the company.”

Further, in terms of the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the company's securities for its "Designated Persons" will remain closed with effect from 18 June 2024 until 48 hours after the conclusion of the Meeting of the Board, i.e. until Monday, 24 June 2024.

GRM Overseas news

The agri product maker was recently in the news as one of its promoters raised his stake in the company. The agro-product company informed Indian exchanges that the company's promoter, Atul Garg, demonstrated his confidence in the company's future by buying an additional 0.12 percent of the company's shares. As per the exchange filing by GRM Foods Ltd, Atul Garg purchased 73,000 GRM Overseas shares on Monday last week, increasing his net stake in the company to 72.28 percent.

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$112 B

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$136 M

First Published:18 Jun 2024, 03:01 PM IST
HomeMarketsStock MarketsGRM Overseas share price jumps 10% after announcement of fundraise

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