GACM Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on April 07, 2026.
GATECH · price
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GACM Technologies' Board met on April 7, 2026, and approved the issuance of Foreign Currency Convertible Bonds (FCCBs) for up to US$699 million (about ₹5,800+ crore), to be raised in one or more tranches, subject to shareholder and regulatory approvals. The Board also approved registering the company with the Software Technology Parks of India (STPI), Hyderabad, to enable software exports and avail STPI scheme benefits. A Fund-Raising Committee has been set up to decide terms and conditions of the bond issue. An Extraordinary General Meeting (EGM) has been scheduled from April 29, 2026, to seek shareholder approval, with the cut-off date for voting eligibility set as April 22, 2026.
The proposed FCCB issue of up to US$699 million is a very large fundraising move relative to typical small-cap companies, which could lead to significant equity dilution if the bonds are converted. Shareholders should watch the conversion price and EGM resolution carefully, as this will directly affect ownership and stock price.