GACM Technologies Limited — Others, 20-12-2024: Change in Management

GACM Technologies Limited's Board has decided to withdraw the allotment of 646.99 crore convertible equity warrants on a preferential basis after participants expressed disinterest due to significant price differences at the time of allotment. Additionally, Ms. Sai Naga Kathyayani Mugata has been appointed as an Additional Non-Executive Director, bringing over 8 years of IT experience. Mr. Mugatha Narendra Babu's designation has been changed to Executive Director & CFO, aligning management roles to strengthen leadership. This reshuffling may enhance operational efficiency but could also cause uncertainty among investors regarding ongoing strategic plans. A positive outlook could emerge with strengthened governance.