The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Atul Garg & Others
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On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 1.1 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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GRM Overseas promoters Atul Garg, Mamta Garg, Hukam Chand Garg, and director Nipun Jain received 37,14,000 equity shares on February 6, 2026, through conversion of warrants along with reserved bonus shares (2:1 bonus approved at the December 9, 2025 EGM). The warrants were originally issued on August 8, 2024 at Rs. 37.50 per share, and this allotment converted those warrants into equity. As a result, the promoter group's absolute shareholding rose from 12,56,51,952 to 12,93,65,952 shares, an increase of about 1.79%. However, the total share capital of the company also expanded from 18.40 crore shares to 20.72 crore shares, so the promoter group's percentage holding actually came down from 68.27% to 62.43% on the expanded base. The new shares rank pari-passu with existing equity for voting and dividends.
This is a pre-planned promoter acquisition from earlier warrants, not a fresh market purchase, so there is no immediate cash outflow for promoters beyond the 25% upfront already paid in 2024. The slight dip in promoter holding percentage is purely a mathematical effect of the larger share base — promoter control remains strong at over 62%. Existing minority shareholders are mildly diluted but gain a more liquid float and benefit from the bonus element.