GACM Technologies Approves Key Appointments, Capital Increase & Fund Raising
GACM Technologies approved re-appointments of MD, Whole Time Director, and Independent Director. The company will increase authorized capital to ₹1,000 Crore and raise up to ₹200 Crore via QIP/FCCBs. It will also acquire 23.64% of WEXL EDU Limited through a share swap valued at ₹127.60 Crore.
The decisions made by the Board of Directors, such as increasing authorized capital, planning to raise funds, and acquiring a significant stake in another company, are expected to have a substantial impact on GACM Technologies' future operations and financial structure.
The announcement details several positive developments including key management re-appointments, a significant capital increase, a plan for fundraising, and a strategic acquisition through share swap, all indicating company growth and stability.
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 term of five years, effective November 13, 2026. Additionally, Mr. Chandra Sekhar Dasaka was re-appointed as an Independent Director for a second term of five years.
The company also approved the re-appointment of M/s. Gorantla & Co., Chartered Accountants as its Statutory Auditors for a second term of five consecutive years, commencing from the conclusion of the 31st Annual General Meeting (AGM) until the 36th AGM in 2031. GANTA & CO., Chartered Accountants was appointed as the Internal Auditor for the financial year 2026-27.
Furthermore, the board approved an increase in the 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 Qualified Institutional Placement (QIP) or Foreign Currency Convertible Bonds (FCCBs), subject to necessary approvals, including shareholder approval at the AGM.
In a significant move, GACM Technologies will acquire a 23.64% stake in WEXL EDU Limited through a preferential issue (share swap). This will involve issuing 1,275,969,960 equity shares of the company at an issue price of ₹1 per share to the shareholders of WEXL EDU Limited, valuing the enterprise at ₹127.60 Crores. The board also approved the alteration and adoption of the Memorandum of Association (MOA) and set the date for the 31st AGM, along with approving the draft annual report and related party transactions.
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.