Penny stock under Re 1: Shares of GACM Technologies Ltd have been on an uptrend for nearly two weeks. The penny stock has been hitting the upper circuit for the last 12 straight sessions, qualifying it as one of the circuit-to-circuit stocks in the Indian stock market. After locking in the upper circuit on the previous 11 sessions, the upper circuit stock remained unmoved by the muted trends on Dalal Street and touched the upper circuit immediately after the opening of the Friday trading session. GACM Technologies today opened at ₹0.91 apiece on NSE and came close to its 52-week high of ₹0.93 apiece.
Fundraising fuels buying
GACM Technologies’ share price is drawing increased market attention as the stock approaches its 52-week high, with institutional participation, strong recent volume, and a fresh ₹49.50 crore capital raise adding new dimensions to the story.
The company completed its Qualified Institutions Placement (QIP) last week, through which 49.50 crore equity shares were allotted at ₹1 per share, aggregating to ₹49.50 crore. The issue opened on August 13, 2026 and was closed on August 14 after the company received application forms and funds in the escrow account from eligible Qualified Institutional Buyers (QIBs).
FIIs on board
Four overseas funds were among the major allottees: Minerva Ventures Fund received ₹14.50 crore in shares; Magnifica Global Opportunities VCC – MGO High Conviction Fund received ₹14 crore in shares; and AL Maha Investment Fund PCC – Onyx Strategy and Ebisu Global Opportunities Fund each received ₹10.50 crore in shares.
Based on the Company’s post-QIP capital structure, the four institutional allottees collectively represent approximately 29% of the Company’s equity. This gives the QIP a particularly significant institutional angle, with a large block of the newly issued equity allotted to overseas investors registered within India’s FPI framework.
GACM Technologies FY26 update and CAPEX
GACM Technologies Ltd’s FY26 consolidated revenue grew by more than 57%, while consolidated profit after tax increased by more than 108%. The company has also reported 12 consecutive profitable quarters, adding an element of earnings consistency to the recent market interest.
The business side provides another component to the story. GACM has exposure to an AI-EdTech business through its 30% stake, with reported confirmed orders of more than ₹30 crore, comprising ₹25 crore from the Delhi Government and ₹5 crore from the Tamil Nadu Government. The business has also reported five registered AI-related patents, while additional education-technology opportunities have been discussed separately and should not be treated as confirmed revenue.
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