Penny Stock Below Re 1 Announces 51:82 Rights Issue; Check Details Inside
The stock is up by 15.8 per cent from its 52-week low of Re 0.57 per share.
On Tuesday, shares of GACM Technologies Ltd gained 1.54 per cent to Re 0.66 per share from its previous closing of Re 0.65 per share. The company has a market cap of over Rs 40 crore. The stock is up by 15.8 per cent from its 52-week low of Re 0.57 per share. The shares of the company saw a spurt in volume by more than 1.22 times on BSE.
GACM Technologies Limited is proposing a rights issue of fully paid-up Equity Shares and DVR (Differential Voting Rights) shares, each with a face value of Re 1. The company intends to issue a total of 42,32,83,900 Rights Equity Shares and 7,35,26,112 DVR Shares. The issue price for both types of shares is set at Re 1.00 per share. The record date for determining eligible shareholders for this rights issue is Saturday, April 26, 2025.
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The rights issue period will commence on Tuesday, May 06, 2025, and will close on Monday, June 02, 2025. The last date for on-market renunciation of rights entitlements is Tuesday, May 27, 2025. Shareholders are advised to ensure that off-market transfers for renunciation are completed such that the rights entitlements are credited to the renouncees' demat accounts before the issue closing date. The rights entitlement ratio is fixed at 51 Equity Shares for every 82 existing Equity Shares and 51 EQ-DVR shares for every 82 existing BSE Scrip EQ-DVR shares held on the record date. Assuming full subscription, the outstanding Equity Shares post the rights issue will be 1,10,38,58,014.
GACM Technologies Ltd, established in 1995, offers financial consultancy and technology solutions. The company's recent expansion into the IT sector includes software development, web applications, IT services, hardware maintenance, outsourcing, training and consultancy in various fields. Additionally, GACM has ventured into broadcasting and cable services, diversifying its operations to cater to a wider range of industries.
Disclaimer: The article is for informational purposes only and not investment advice.