GRM Overseas Limited — Others, 13-02-2025: Monitoring Agency Report

GRM Overseas Limited has provided a Monitoring Agency Report for the quarter ended December 31, 2024, concerning the utilization of proceeds from its preferential issue of fully convertible warrants, amounting to ₹136.05 crore. The report from CARE Ratings confirms that all proceeds have been utilized as per the objectives outlined in the offer document, with no material deviations reported. The monitoring indicates a steady operational path, as funds are allocated for working capital, investment in subsidiaries, and general corporate purposes. This stability may foster a positive outlook among investors, reinforcing confidence in the company’s strategic initiatives.