GACM Technologies Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on April 29, 2026
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GACM Technologies Limited has called an Extraordinary General Meeting on April 29, 2026 via video conferencing to seek shareholder approval for issuing Foreign Currency Convertible Bonds (FCCBs) worth up to USD 699 million (approximately ₹5,900 crore). The funds will be used for acquiring companies to expand the existing business and overseas markets, and to develop autonomous technology with the aim of securing mandates from international clients and long-term exclusive contracts. The FCCBs can be converted into equity shares at prices determined by the Board. Remote e-voting will be available from April 24-28, 2026, with April 22, 2026 as the cut-off date for eligible voters.
This is a significant capital-raising proposal that could lead to substantial equity dilution when FCCBs convert to shares. The large fund size suggests ambitious acquisition and international expansion plans, which could be value-accretive if successful but carries conversion and foreign exchange risks for existing shareholders.