GACM Technologies successfully concludes QIP issue of Rs 49.50 cr

GACM Technologies announced the successful completion of its Qualified Institutions Placement (QIP). Through the QIP, the Company allotted 49.50 crore fully paid-up equity shares of face value Re 1 each at an issue price of Re 1 per equity share, aggregating to Rs 49.50 crore.

The QIP witnessed participation from overseas institutional investors, including funds based in Mauritius and registered under the applicable Foreign Portfolio Investor (FPI) framework. The participation of these institutional investors represents a significant development for GACM Technologies and further enhances the Company's visibility among global investment institutions.