GACM Technologies Board Approves Director Re-appointments, Capital Increase, and Fund Raising
GACM Technologies' Board approved re-appointments of MD and Whole Time Directors for 5-year terms. Authorized capital will increase from ₹300 Cr to ₹1,000 Cr. The company plans to raise up to ₹200 Cr via QIP/FCCBs. It will acquire 23.64% of WEXL EDU Limited via share swap, issuing 127.60 Cr shares.
The approved capital increase, fund-raising, and acquisition are significant corporate actions that will substantially impact the company's structure, financial position, and future growth prospects.
The company has approved multiple positive developments including director re-appointments, significant capital increase, fund-raising initiatives, and an acquisition via share swap, all of which are generally viewed positively by the market.
GACM Technologies Limited announced the outcomes 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. Additionally, Mr. Chandra Sekhar Dasaka's re-appointment as an Independent Director for a second term of five years was approved.
The company also approved the re-appointment of its Statutory Auditors, M/s. Gorantla & Co., 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. The appointment of GANTA & CO. as Internal Auditors for the Financial Year 2026-27 was also confirmed.
Significant financial decisions included the proposed 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 Qualified Institutional Placement (QIP) or Foreign Currency Convertible Bonds (FCCBs), subject to necessary approvals, including shareholder consent at the AGM. Furthermore, the board approved the acquisition of a 23.64% stake in WEXL EDU Limited through a preferential issue (share swap) of equity shares to non-promoters. This involves issuing 1,275,969,960 equity shares of face value ₹1 each at an issue price of ₹1 per share, valued at ₹127.60 Crores.
The board also approved the alteration and adoption of the Memorandum of Association (MOA) as per the Companies Act, 2013, and finalized the date for the 31st AGM, along with the draft Notice and Annual Report for FY 2025-26. Material related party transactions were also approved, pending member approval. The 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.