GRM Overseas acquires stake in Virat Kohli-backed coffee brand
According to an exchange filing, the company has acquired a 44 per cent equity stake through primary infusion and secondary buyouts.
FMCG major GRM Overseas has announced that its board has approved the strategic investment in Swmabhan Commerce Pvt Ltd, the parent company of Virat Kohli-backed digital-first coffee brand Rage Coffee.
According to an exchange filing, the company has acquired a 44 per cent equity stake through primary infusion and secondary buyouts.
As per the information provided, Swmabhan Commerce, having an authorised capital of Rs 10,00,000 divided into 50,000 equity shares and 50,000 preference shares of face value Rs 10 each, had a turnover of 2495.62 lakh (unaudited) in 2023-24.
GRM Overseas said that the transaction will strengthen its presence in the FMCG segment and accelerate its digital transformation journey by adding another digital-first brand with a strong and differentiated proposition to its portfolio.
Swmabhan Commerce Pvt Ltd was incorporated on August 03, 2018, with a registered office in New Delhi. The Company is a manufacturer of instant-flavoured coffee having a manufacturing facility in Manesar, Haryana.
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