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.

GACM Technologies reported a significant contraction in profitability for the first quarter of FY27, with consolidated net profit falling 50% year-on-year to ₹1.52 crore. The Hyderabad-based software and financial consultancy firm saw its consolidated revenue from operations drop 33% to ₹45.00 lakh in Q1FY27 compared to ₹66.99 lakh in the same period last year. Standalone net profit also declined 50% to ₹1.51 crore, reflecting broader headwinds in the company’s core business segments.

The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during a meeting held on August 12, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Gorantla & Co Chartered Accountants, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Consolidated total income decreased to ₹47.45 lakh from ₹69.15 lakh in Q1FY26. The decline was primarily driven by lower revenue from operations, which stood at ₹45.00 lakh against ₹66.99 lakh in the previous year’s corresponding quarter. Other income remained relatively stable at ₹24.54 lakh.

Total expenses for the group were ₹32.20 lakh, down from ₹36.00 lakh in Q1FY26. Employee benefits expense reduced to ₹8.17 lakh from ₹11.31 lakh, and cost of operations halved to ₹2.93 lakh from ₹5.81 lakh. However, depreciation and amortization expense increased significantly to ₹17.70 lakh from ₹7.60 lakh, impacting the bottom line.

On a standalone basis, revenue from operations fell 30% to ₹41.00 lakh from ₹58.69 lakh. Total expenses were ₹28.37 lakh, compared to ₹30.56 lakh in Q1FY26. Depreciation and amortization rose sharply to ₹15.06 lakh from ₹6.21 lakh, while employee benefits decreased to ₹7.01 lakh from ₹9.79 lakh.

What the Numbers Show

The divergence between the decline in operating costs and the sharp rise in depreciation highlights a shift in cost structure rather than pure operational efficiency gains. While employee benefits and direct operational costs decreased substantially, depreciation and amortization more than doubled in both standalone and consolidated figures. This suggests that the company is carrying higher fixed asset bases or intangible asset amortization charges that are not being offset by proportional revenue growth. The subsidiary, Gayiadi Fintech Private Limited, contributed ₹4.00 lakh in revenue and ₹0.127 lakh in net profit for the period, indicating minimal impact on the overall consolidated performance.