GRM Overseas, engaged in the business of processing and sale of rice and paddy, announced that its subsidiary GRM Foodkraft has entered into a Memorandum of Understanding (MoU) with Reliance Retail (JioMart) to place its Products in Reliance Stores.

GRM Products will be available in 45 Distribution Centers of Reliance Retail (JioMart) across the country, under B2B category.GRM’s association with Reliance Retail (JioMart) under B2B category is a testament to Company's strong customer relationship as well as effective marketing capabilities in domestic as well as export market. Further, GRM strive towards more wins like these with top grocery retailers / chains in the domestic and international markets in future.

The partnership with Reliance Retail (JioMart) will further strengthen GRM presence and maximize its reach in domestic market and is expected to drive the top line growth and market share in the coming years.

Going forward, GRM will continue to focus on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added Products, and adding value through Products differentiation. Taking the momentum forward with a clear strategy in mind, GRM is poised to enter into a new era of growth and to create maximum value for all our stakeholders.

Shares of the company gained Rs 6.2, or 0.26%, to settle  at  Rs 2,426.95.  The total volume of shares traded  was  6,419 at  the BSE (Wednesday).