GACM Technologies Limited has successfully completed a Qualified Institutions Placement (QIP) raising ₹49.50 crore. The company allotted 49.50 crore fully paid-up equity shares of face value ₹1 each at an issue price of ₹1 per share.

The QIP was conducted in accordance with SEBI (ICDR) Regulations, 2018 and witnessed participation from overseas institutional investors, specifically Mauritius-based funds registered under the Foreign Portfolio Investor (FPI) framework.

Major Institutional Allottees

  • Minerva Ventures Fund: 14.50 crore shares (9.08% of QIP)
  • Magnifica Global Opportunities VCC – MGO High Conviction Fund: 14.00 crore shares (8.76% of QIP)
  • AL Maha Investment Fund PCC – Onyx Strategy: 10.50 crore shares (6.57% of QIP)
  • Ebisu Global Opportunities Fund: 10.50 crore shares (6.57% of QIP)

Total allocation: 49.50 crore shares representing 30.98% of the QIP

Management Commentary

The management stated that the strong participation from institutional investors reflects confidence in the company's business strategy, growth prospects, and long-term vision. The capital raised will strengthen the company's financial position and provide resources to pursue strategic initiatives and create sustainable long-term value for all stakeholders.

Intended Use of Proceeds

The company intends to deploy the proceeds in accordance with the stated objects of the issue and applicable regulatory requirements. The funds will provide additional financial flexibility to pursue business objectives, expansion initiatives, and strategic opportunities.

Impact on Capital Structure

The QIP strengthens the company's capital structure and enhances its institutional investor base, particularly increasing visibility among global investment institutions. The participation of Mauritius-based investment funds provides further depth to the company's shareholder base.

Additional Information

The press release regarding this QIP completion is available on the company's website at https://www.gacmtech.com/ and has been filed with BSE and NSE as required under regulatory provisions.