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GRM Overseas Ltd. Capital/Financing Update 2022
60532_rns_2022-11-29_d0dc1936-a314-4158-90b9-7bd87110f4f5.pdf
Capital/Financing Update
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Date: November 29, 2022
To,
The General Manager The Manager Phiroze Jeejeebhoy Towers 5th Floor, Plot No. C-1, Block-G Mumbai- 400 001 Mumbai-400 051 BSE Scrip Code: 531449 NSE Scrip Code: GRMOVER
BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Listing Department Exchange Plaza Dalal Street Bandra-Kurla Complex, Bandra(E)
Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – acquisition of additional 8,900 equity shares of material Subsidiary of the Company viz GRM Foodkraft Private Limited
Dear Sir / Madam,
This is to inform you that pursuant to Regulation 30 read with Schedule III, Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company has purchased additional 8,900 equity shares of GRM Foodkraft Private Limited material subsidiary of the Company from its existing shareholders at a total consideration of Rs. 1,02,08,300 (Rupees One Crore Two Lakhs Eight Thousand Three Hundred Only).
We would like to inform that on completion of above transaction, the Company's shareholding in its material Subsidiary Company has / would increase from 86.95% to 94.69%.
Further, we enclose herewith the details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/ CFD /CMD/4/2015 dated September 9, 2015 as Annexure to this letter.
You are requested to take the above on your records.
Yours faithfully,
For GRM Overseas Limited Manish Kumar MANISH KUMAR Digitally signed by MANISH KUMAR Date: 2022.11.29 15:33:20 +05'30'
General Counsel and Company Secretary M.No. F7990
GRM OVERSEAS LIMITED
Annexure
| Sr. | Particulars | Details |
|---|---|---|
| No. | ||
| (a) | Name of the target entity, details in briefsuch as size, turnover, etc. | GRM Fookraft Private Limited is a subsidiary ofGRM Overseas Limited ("the Company"). Duringthe FY 2020-21 and FY 2021-22, turnover of thesubsidiary company was Rs. 5,795.93 lakhs and Rs.18,938.09 lakhs respectively. Total paid up EquityShare Capital of the Subsidiary as on date is Rs.11,50,000 (Rupees Eleven Lakhs Fifty ThousandOnly). |
| (b) | If yes, nature of interest and details thereof interest in thelength" | Whether the acquisition would fall within The purchase of equity shares from shareholders ofrelated party transaction(s) and whether the Subsidiary is not a related party transaction for thepromoter/ promoter group/ group companies Company. Apart from being a subsidiary of thehave any interest in the entity being acquired? Company, none of the Group entities have anysharesbeingacquired.Theand whether the same is done at "arm's promoter/promoter group/group companies of theCompany have no interest in the entity whose sharesare being purchased. |
| (c) | Industry to which the entity being acquiredbelongs | Fast-moving Consumer Goods (FMCG). |
| (d) | ofObjectseffectsandbusiness is outside the main line ofbusiness of the listed entity) | acquisition The objective of purchase is to further consolidate(including but not limited to, disclosure of shareholding of the Company in the Subsidiary. Thereasons for acquisition of target entity, if its additional purchase would result in an increase inCompany's shareholding in the Subsidiary from86.95% to 94.69%. |
| (e) | Brief details of anygovernmentalapprovals required forregulatorytheacquisition | or None |
Registered Office 128, First Floor, Shiva Market Pitampura, Delhi 110034, India. • +91-11-4733 0330 Corporate Office 8 K.M. Stone, Gohana-Rohtak Road Village Naultha, Panipat 132145 Haryana, India • +91-972964 7000/8000
Factory
- · Gohana Road (Panipat), Haryana
- · Naultha (Panipat), Haryana
- · Gandhidham, Gujarat
CIN: L74899DL1995PLC064007
GRM OVERSEAS LIMITED
| Sr.No. | Particulars | Details | ||
|---|---|---|---|---|
| (f) | Indicative time period for completion of the Completedacquisition | |||
| (g) | Nature of consideration - whether cashconsideration or share swap and details of thesame | The consideration would be in cash | ||
| (h) | Cost of acquisition or the price at which theshares are acquired | The consideration payable in cash for purchase ofshares would be Rs. 1,02,08,300 (Rupees One CroreTwo Lakhs Eight Thousand Three Hundred Only). | ||
| (i) | Percentage of shareholding / controlacquired and / or number of sharesacquired | The Company has / would purchase additional 8,900equity shares resulting in increase in Company'sshareholding in the Subsidiary from 86.95% to 94.69% | ||
| (j) | Brief background about the entity acquired in The Subsidiary i.e. GRM Foodkraft Private Limited,terms of products/line of business acquired, was incorporated on 07/07/2020 engaged in FMCGdate of incorporation, history of last 3 years Sector.turnover, country in which the acquired entityhas presence and any other significant The Total revenue of the Subsidiary for the last 3information (in brief) | Financial Years is as below:FY 2019-20FY 2020-21FY 2021-22 | (Amt.in lakhs)Not Applicable5,795.9318,938.09 |
Registered Office 128, First Floor, Shiva Market Pitampura, Delhi 110034, India. • +91-11-4733 0330
Corporate Office
8 K.M. Stone, Gohana-Rohtak Road Village Naultha, Panipat 132145 Haryana, India • +91-972964 7000/8000
Factory
- · Gohana Road (Panipat), Haryana
- · Naultha (Panipat), Haryana
- · Gandhidham, Gujarat
CIN: L74899DL1995PLC064007