GACM Technologies Limited has approved issuing 1,210,077,200 equity shares to facilitate acquisitions of 5.34% stake in Market Simplified India Limited and 21.06% stake in WEXL EDU Private Limited, valued at ₹121.01 crores. The company plans to increase its authorized share capital from ₹300.00 crores to ₹550.00 crores, subject to shareholder approval. The board has also approved material related party transactions, engaged an independent valuator, and appointed CARE Ratings Limited as the monitoring agency for the preferential issue.

GACM Technologies Limited, a leading technology company, has announced significant strategic moves aimed at expanding its market presence and diversifying its portfolio. The company’s board of directors has approved a series of decisions that will reshape its capital structure and ownership stakes in two key entities.

Share Issuance and Acquisitions

The board has given the green light for issuing 1,210,077,200 equity shares, each with a face value of ₹1.00, on a preferential basis to non-promoters through share swap arrangements. This move is set to facilitate two strategic acquisitions:

1. A 5.34% stake in Market Simplified India Limited at an 80:1 swap ratio
2. A 21.06% stake in WEXL EDU Private Limited at a 120:1 swap ratio

The total value of these acquisitions is pegged at ₹121.01 crores, signaling GACM Technologies’ commitment to growth and expansion in the tech and education sectors.

Increase in Authorized Share Capital

To accommodate this substantial share issuance, the board has approved an increase in the company’s authorized share capital. The new authorized capital will rise from ₹300.00 crores to ₹550.00 crores, subject to shareholder approval at the upcoming 30th Annual General Meeting.

Corporate Governance and Compliance

In line with regulatory requirements, the board has taken several steps to ensure transparency and compliance:

1. Approval of material related party transactions under Section 188 of the Companies Act, 2013, subject to shareholder approval.
2. Engagement of an independent registered valuator, Gadiparthi Rambabu, to provide a valuation report for the transactions.
3. Appointment of CARE Ratings Limited as the monitoring agency for the preferential issue.

Regulatory Approvals

It’s important to note that all these decisions are subject to necessary regulatory and statutory clearances. The company will seek shareholder approval for the increase in authorized share capital and other relevant matters at the forthcoming Annual General Meeting.

Market Impact

This strategic move by GACM Technologies Limited is likely to have significant implications for its market position and future growth prospects. The acquisitions in Market Simplified India Limited and WEXL EDU Private Limited could potentially enhance the company’s capabilities in fintech and educational technology sectors, respectively.

Investors and market watchers will be keenly observing how these strategic decisions unfold and impact GACM Technologies’ performance. The substantial increase in the number of outstanding shares may also affect the company’s stock dynamics and valuation metrics.

As GACM Technologies Limited embarks on this new phase of growth and expansion, stakeholders will be eager to see how the company leverages these acquisitions to create value and strengthen its market position in the competitive technology landscape.