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GRM Overseas-led GRM Foodkraft’s 10X brand to be available on Udaan platform; Stock hits 52-week high

The company to leverage Udaan’s extensive network of retailers and further enhance GRM Overseas subsidiary’s presence in Domestic Market.

January 11, 2022 11:50 IST | India Infoline News Service
GRM Overseas Limited (“GRM”), one of India’s leading basmati Rice exporters and a growing consumer staples player, has announced its subsidiary, GRM Foodkraft Pvt. Ltd (GFK) 10X Rice brand will be available on Udaan, India’s largest Business-to-Business (B2B) e-Commerce platform. The Company will initially begin selling its various categories of Rice under 10X Brand through this platform and progressively introduce other products.

Udaan has a vast distribution network of over 3 million retailers in over 1000 cities and covering 12,000+ pin codes across the country. This association with Udaan is yet another milestone in GRM’s objective to strengthen 10X’s brand and reach a wider consumer base pan India.

Furthermore, while this partnership is expected to assist in enhancing 10X brand presence in the domestic market by increasing market share and product reach, it will also keep it competitive and drive revenue and profitability growth for the Company.

Udaan has a vast distribution network of over 3 million retailers in over 1000 cities and covering 12,000+ pin codes across the country. This association with Udaan is yet another milestone in GRM’s objective to strengthen 10X’s brand and reach a wider consumer base pan India. Furthermore, while this partnership is expected to assist in enhancing 10X brand presence in the domestic market by increasing market share and product reach, it will also keep it competitive and drive revenue and profitability growth for the Company.

The availability of our products on the Udaan platform is an extension of our objective of penetrating the domestic consumer staples segment and capturing the unorganised market. Before Udaan, GRM Foodkraft already enjoys association with large modern trade players like Jio Mart and Walmart India leveraging their platform and network to strengthen its brand presence and recognition.

Furthermore, we are optimistic of entering into such strategic association with more such leading modern trade players operating in India going ahead.”

During early trading hours on Tuesday, GRM Overseas hits 52-week high at Rs856.10 apiece on the BSE.

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