NEW DELHI — GACM Technologies Limited has announced that it has successfully raised ₹49.50 crore through the qualified institutional placement (QIP) route, according to a company regulatory filing on Friday.
As per the filing, the QIP attracted participation from several overseas institutional investors. The participating entities include Minerva Ventures Fund, Magnifica Global Opportunities VCC – MGO High Conviction Fund, AL Maha Investment Fund PCC – Onyx Strategy, and Ebisu Global Opportunities Fund.
Through this QIP issue, the company allotted 49.50 crore fully paid-up equity shares. The shares were issued at a face value of ₹1 each, with an issue price set at ₹1 per equity share, bringing the total aggregation to ₹49.50 crore.
Commenting on the capital raise, the company stated that the funds will be utilized to further strengthen its financial position. Additionally, the capital is intended to provide the organization with the necessary resources to pursue its strategic initiatives and work toward creating sustainable long-term value for its stakeholders.
"Raising capital through the Qualified Institutional Placement (QIP) route allows listed entities like GACM Technologies to secure growth capital efficiently from institutional investors. The participation of overseas funds indicates institutional confidence in the company's financial roadmap. For businesses executing such capital raises, the key lies in disciplined deployment of funds toward core strategic initiatives to ensure long-term value creation for all stakeholders." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
