GACM Tech Board Approves $699M FCCB Issuance, EGM on April 29
GACM Technologies' Board approved the issuance of FCCBs up to US$699 million. The company will also register with STPI, Hyderabad. An EGM is scheduled for April 29, 2026, with April 22, 2026, as the cut-off date for voting eligibility.
The substantial FCCB issuance of US$699 million is a material financial event that could significantly impact the company's capital structure and growth prospects.
The company's approval for a significant FCCB issuance and STPI registration indicates a positive outlook for growth and expansion.
GACM Technologies Limited announced that its Board of Directors, in a meeting held on Tuesday, April 07, 2026, has approved the issuance of Foreign Currency Convertible Bonds (FCCBs) for an amount not exceeding US$699,000,000 (USD Six hundred and Ninety Nine Million). This issuance will be conducted through permissible modes, listed or unlisted, in one or more tranches, subject to necessary shareholder, regulatory, and statutory approvals. To manage this fundraising, the Board has constituted a Fund-Raising Committee.
Additionally, the Board has approved the company's proposal to register with the Software Technology Parks of India (STPI), Hyderabad. This registration will facilitate the export of software products and/or services, enabling the company to avail benefits under the STPI scheme.
The Board also approved the convening of an Extraordinary General Meeting (EGM) on April 29, 2026, to seek shareholder approval for the aforementioned items. A draft notice for the EGM was also approved. Mr. Anil Kumar Rastogi, Practicing Company Secretary, has been appointed as the Scrutinizer for the EGM voting process. The cut-off date for determining shareholder eligibility to vote at the EGM has been set as April 22, 2026.
What to do with a filing like this
GACM Technologies Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by GACM Technologies Limited. Read the original for the full detail.