Mumbai, Jul 9 (PTI) Financial technology company GACM Technology (GATECH) on Wednesday said its board has approved a proposal to raise up to Rs 200 crore through the qualified institutional placement route.

The board "at its meeting held on Wednesday, July 9, 2025, approved raising of funds by way of Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs 200 crore," the company said in a regulatory filing.

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The funds will be raised in one or more tranches and the QIP issue will be subject to necessary approvals including the approval of the members of the company at the ensuing AGM, the filing said.

The board of directors also finalised the share swap agreement, involving up to a 16 per cent equity stake in MSIL and a 30 per cent equity stake in WeXL Edu Pvt Ltd, the filing said.

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GATECH recently signed an agreement to acquire a 30 per cent equity stake in WEXL Edu, an AI-driven EdTech and education data company. The projected valuation of the deal is estimated to be around Rs 500 crore.

This acquisition represents a milestone in GACM Technologies' evolution as a diversified technology group, it said.

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