Al Maha Investment Fund PCC - Onyx Strategy has acquired a 6.57% stake in GACM Technologies through a Qualified Institutions Placement (QIP). The Mauritius-based fund purchased 10,50,00,000 fully paid-up equity shares of face value ₹1 each at an issue price of ₹1 per share. The transaction increases the company’s total equity share capital from 1,10,27,42,236 shares to 1,59,77,42,236 shares.

The acquisition was disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Al Maha Investment Fund is not part of the promoter group and has no Persons Acting in Concert (PAC). The new shares rank pari passu with existing equity shares.

Transaction Details

What the Numbers Show

The QIP resulted in a significant expansion of the company's share base. The total equity capital increased by approximately 44.9% (from 1,10,27,42,236 to 1,59,77,42,236 shares), indicating that the fresh issuance constituted a substantial portion of the post-transaction capital structure. The acquirer holds no encumbrances or convertible instruments, representing a direct equity investment.

Regulatory Disclosure

The disclosure was filed with the BSE Limited and National Stock Exchange of India Limited (NSE). The date of receipt of intimation of allotment is confirmed as August 14, 2026, subject to final credit intimation. Part-B of the disclosure, containing PAN details and authorized signatures, was submitted to the exchanges but not disseminated publicly.

GACM Technologies Limited has completed a significant portion of its Qualified Institutions Placement (QIP), with Minerva Ventures Fund acquiring 14,50,00,000 equity shares. The acquisition, disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, grants the Mauritius-based fund a 9.08% stake in the company.

The shares were allotted at the offer price of Re 1 per equity share, consistent with the pricing announced when the QIP opened on August 13, 2026. The total value of this specific allotment amounts to ₹14.50 crore. The acquisition date was recorded as August 14, 2026, subject to final allotment confirmation.

Acquisition Details

Prior to this transaction, Minerva Ventures Fund held no shares or voting rights in GACM Technologies. Following the acquisition, the fund holds 14,50,00,000 fully paid-up equity shares, representing 9.08% of the total diluted share capital. The acquirer is not part of the promoter group.

The equity share capital of GACM Technologies increased from 1,10,27,42,236 shares before the acquisition to 1,59,77,42,236 shares after the issuance. The newly issued shares rank pari passu with existing equity shares.

QIP Context and Regulatory Compliance

This acquisition forms part of the broader QIP opened by GACM Technologies on August 13, 2026, with an aggregate size of up to ₹49.50 crore. The offer price of Re 1 represents a premium over the regulatory floor price of ₹0.67, which was determined based on Regulation 176(1) of the SEBI ICDR Regulations using August 13, 2026, as the relevant date.

The Fund-Raising Committee approved the opening of the issue during its meeting on August 13, 2026. This follows earlier approvals from the Board of Directors on September 3, 2025, and shareholders at the Annual General Meeting on September 25, 2025. The preliminary placement document was filed with BSE Limited on the day of the opening.

In compliance with its Prevention of Insider Trading Code of Conduct, GACM Technologies has closed the trading window for all Designated Persons. This restriction remains in effect until 48 hours after the closure of the issue and the allotment of shares.

What the Numbers Show

The acquisition by Minerva Ventures Fund accounts for approximately 29% of the maximum aggregate amount of ₹49.50 crore permitted under the QIP structure. The substantial single-entity allocation highlights strong institutional interest at the premium-priced issue level, significantly above the regulatory floor of ₹0.67.