Board approves USD 699M FCCB issuance, STPI registration

Board & Shareholder Meetings View source PDF

GATECHDVR · price

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AI summary

GACM Technologies board approved issuing Foreign Currency Convertible Bonds (FCCBs) up to USD 699 million in one or more tranches, subject to shareholder and regulatory approvals. Board also approved registering with STPI Hyderabad for software export benefits. EGM on April 29, 2026 (cut-off April 22) to seek shareholder nod.

Likely market impact

Massive USD 699M FCCB issuance signals major capital raise; potential dilution risk for shareholders pending EGM approval on April 29.