Penny stock under ₹1, GACM Technologies, hit the 5% upper circuit on Thursday, July 10, after the company board at its meeting a day ago approved raising ₹ 200 crore via a qualified institutional placement (QIP).
Additionally, the penny stock’s board approved its financial results for the June 2025 quarter of the ongoing fiscal year (Q1 FY26).
GACM Technologies’ share price opened at ₹0.83 apiece, slightly lower than its last close of ₹0.85, but soon touched the intraday high of ₹0.89, which is also its 5% upper price band.
GACM Technologies QIP Details
GACM Technologies in an exchange filing dated July 9 said that the board approved raising of funds by way of issuance of such number of equity shares having a face value of ₹ 1 each of the company and/or other eligible securities for an aggregate amount not exceeding ₹ 200 crore or an equivalent amount thereof by way of Qualified Institutional Placement in accordance with the applicable laws, in one or more tranches.
The penny stock under ₹1 added that the said ₹200 crore QIP issue is subject to the approval of the members of the company at the ensuing Annual General Meeting (AGM)/.
GACM Share Swap Details
GACM Technologies recently announced that it has signed a deal to buy a 30% ownership stake in WEXL Edu Private Limited, a fast-growing AI-based EdTech and education data company. The estimated value of this deal is over ₹500 crore, even though the current market value of GACM (the acquiring company) is only ₹94 crore.
The company’s Board of Directors, at its board meeting yesterday, also reviewed the progress of a proposed Preferential Allotment of Equity Shares using a Share Swap method. This means that instead of paying cash, the company will issue shares in exchange for ownership in other companies. As part of this finalised deal, GACM will receive up to 16% equity in MSIL, and a 30% equity stake in WEXL Edu Private Limited.
GACM Technologies Q1 Results
The penny stock under ₹1 posted a strong set of numbers for the June 2025 quarter. Its standalone net income surged 285% to ₹6.08 crore in Q1 FY26 from ₹1.57 crore in the corresponding quarter a year ago.
Similarly, its PAT jump was also significant, with the profit growing to ₹3.02 crore in Q1 from ₹0.34 crore in the same period last year, registering a 788% surge.