GACM Tech Board Approves Management Changes, Capital Raise & Acquisition
GACM Technologies approved re-appointments of MD and Whole Time Director for 5 years. The company will increase authorized capital to ₹1,000 Crore and raise up to ₹200 Crore via QIP/FCCB. It will also acquire 23.64% in WEXL EDU via share swap. Statutory auditors re-appointed for 5 years.
The re-appointments of key management personnel, the significant fundraising plan, and the acquisition of a substantial stake in another company are material events that are likely to have a considerable impact on GACM Technologies' future operations and financial performance.
The announcement details several positive corporate actions, including management re-appointments, a significant capital raise, an acquisition, and an increase in authorized share capital, all of which are generally viewed favorably by the market.
GACM Technologies Limited announced the outcome of its Board of Directors meeting held on August 31, 2026. The Board approved several key decisions, including the re-appointment of Mr. Jonna Venkata Tirupati Rao as Managing Director for a term of five years, effective November 27, 2026. Mr. Srinivas Maya was also re-appointed as Whole Time Director for a five-year term, effective November 13, 2026. Furthermore, Mr. Chandra Sekhar Dasaka's re-appointment as Independent Director for a second term of five years was approved.
The Board also approved the re-appointment of M/s. Gorantla & Co. as Statutory Auditors for a term of five years, commencing from the conclusion of the 31st Annual General Meeting (AGM) until the 36th AGM in 2031. GANTA & CO. was appointed as the Internal Auditor for the financial year 2026-27.
Significant corporate actions were also greenlit, including an increase in authorized share capital from ₹300 Crores to ₹1,000 Crores, subject to shareholder approval at the upcoming 31st AGM. The company also plans to raise funds up to ₹200 Crores through a Qualified Institutions Placement (QIP) or FCCBs, pending necessary approvals, including shareholder consent at the AGM. Additionally, the Board approved the acquisition of a 23.64% stake in WEXL EDU Limited through a preferential issue (share swap) of equity shares.
The meeting also finalized the date of the 31st AGM, the draft notice, and the annual report for the Financial Year 2025-26. Related party transactions and the appointment of a scrutinizer for the AGM were also approved. The Board meeting commenced at 3:00 PM and concluded at 6:10 PM.
A plain-language summary of a public exchange filing by GACM Technologies Limited. Read the original for the full detail.