GATECH Set to Raise Rs 200 Crore via QIP, Eyes Stake in EdTech
Financial technology firm GACM Technology plans to raise up to Rs 200 crore through a qualified institutional placement. A board meeting is scheduled for July 9, 2025, to approve securities issuance and financial results. GATECH recently acquired a 30% stake in WEXL Edu.
- Country:
- India
GACM Technology (GATECH), a financial technology company, announced on Thursday that its board will consider a proposal to raise Rs 200 crore through a qualified institutional placement (QIP). The decision will be taken at a board meeting scheduled for July 9, 2025, the company stated.
According to GATECH, the funds will be raised in one or more tranches. The board will also review and approve the financial results for the April-June quarter of this fiscal year, reflecting the company's ongoing financial health.
Moreover, the Telangana-based firm disclosed that it has entered a definitive agreement to purchase a 30% equity stake in WEXL Edu, an AI-driven educational technology and data company. This acquisition deal is valued at approximately Rs 500 crore, marking a significant expansion into the EdTech sector.
(With inputs from agencies.)
- READ MORE ON:
- GACM Technology
- GATECH
- Rs 200 crore
- QIP
- financial results
- WEXL Edu
- stake
- acquisition
- EdTech
- Telangana
ALSO READ
MakeMyTrip Secures $2.5 Billion, Reduces Trip.com Stake
High Stakes at Iran's Nuclear Facilities: An Enrichment Dilemma
Liverpool Kicks Off Premier League Defense with High Stakes
Rugby Premier League: Chennai Bulls and Kalinga Black Tigers Clash in High-Stakes Matchup
High-Stakes Narcotics: Busting the West Bengal-Delhi Drug Route
Google News