GACM Technologies Rights Issue Not Fully Subscribed; Promoters To Fill The Shortfall

Mumbai, June 5, 2025: GACM Technologies Limited (NSE: GATECH / GATECHDVR, BSE: 531723 / 570005), previously known as Stampede Capital Limited, has announced the closure of its Rights Issue, which ended with an undersubscription. To comply with regulatory requirements, the company confirmed that its promoters will step in to subscribe to the unsubscribed shares.

Key Highlights:

• Rights Issue Closure Date: June 4, 2025
• Status of Issue: Undersubscribed
• Promoter Commitment: Full subscription of the unsubscribed shares
• Meeting Duration: Convened at 5:30 PM, concluded at 6:25 PM

Promoter Commitment

Promoter Jonna Venkata Tirupati Rao has submitted a formal undertaking expressing his intention to subscribe to the unsubscribed portion of shares beyond his entitled quota. This action aims to comply with SEBI’s (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 84, which requires full subscription under specified conditions.

The undertaking specifies that:

• The promoter will use internal accruals for the subscription, not any borrowed funds.
• The subscription process will adhere strictly to all statutory limits, including minimum public shareholding requirements and any open offer obligations under SEBI SAST Regulations, if applicable.

Regulatory Compliance

This promoter intervention ensures GACM Technologies meets the minimum subscription threshold and avoids potential regulatory violations. The company affirmed that all steps taken align with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

GACM Technologies Stock Market Snapshot

GACM Technologies opened at ₹0.93, slightly higher than its previous close of ₹0.90. The stock recorded a trading volume of over 6.53 million shares, with a total value of ₹60.77 lakhs. During the trading session, the price fluctuated between ₹0.87 and ₹0.94, nearing its upper and lower circuit limits of ₹0.94 and ₹0.86 respectively.

The company currently has a market capitalisation of ₹17 crore. Over the past 52 weeks, the stock has traded within a range of ₹0.66 to ₹2.26. The all-time high for the stock is ₹59.81, while the all-time low is ₹0.18. The average trading volume over the last 20 days stands at approximately 2.57 million shares, with a high delivery percentage of 106.73%, indicating strong investor interest.

From a financial standpoint, GACM Technologies has a book value per share of ₹0.71. The trailing twelve months (TTM) earnings per share (EPS) is ₹0.22, resulting in a relatively low price-to-earnings (P/E) ratio of 4.23. The price-to-book (P/B) ratio is at 1.31. Currently, the company does not offer any dividend yield.

About GACM Technologies

Based in Hyderabad, GACM Technologies Limited operates in the fintech and capital markets sector. Formerly Stampede Capital Limited, the company is undergoing rebranding and restructuring to focus on emerging technology-driven financial services.

Objects of the Issue

The company intends to utilise the net proceeds from the issue primarily to fund several key objectives. These include financing capital expenditures related to the purchase of software, hardware, and servers to support its technological infrastructure. Additionally, the funds will be used for acquiring businesses operating in similar or complementary sectors, aiding in strategic expansion. A portion of the proceeds will also be allocated to meet general corporate purposes, ensuring the company maintains operational flexibility.

Why Did GACM Technologies Go For a Rights Issue?

GACM chose a Rights Issue over other fundraising methods to give existing shareholders the first right to maintain their proportional ownership and avoid dilution. This approach signals confidence in the company’s future from current investors.

However, undersubscription indicated either a cautious sentiment among minority shareholders or possible liquidity constraints, necessitating promoter intervention.

This promoter-backed commitment reaffirms confidence in the company’s capital structure and investor outlook amid challenging subscription dynamics.

REF:https://nsearchives.nseindia.com/corporate/STAMPEDE_04062025184339_Outcome_RIC_Meeting_GATECH.pdf

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