In a regulatory filing, the company said that the board has approved raising of funds through issue and allotment of up to 91,00,000 share warrants, each warrant convertible into one equity share of face value of Rs 2 on preferential basis at an issue price of Rs 150 (including Premium of Rs 148). The issue size is amounting up to Rs 1,36,50,00,000.
The fund raising is subject to the approval of regulatory/ statutory authorities and the members of the company at ensuing extra-ordinary general meeting.
GRM Overseas engaged in the business of processing and sale of almond kernels, paddy, clove, pista, rice, and wheat. The company markets their products under the brand name Kamdhenu and Chef and exports basmati rice to Saudi Arabia, Europe and other countries.
The company?s consolidated net profit soared 87.75% to Rs 21.16 crore despite of 6.38% fall in revenue from operations to Rs 405.93 crore in Q4 FY24 over Q4 FY23.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits. Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns. Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices. At times, the holdings of customers are sold at prices detrimental to the customer.
The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
The following illicit activities by the persons named herein have come to the notice of Stock Exchanges: