GACM Technologies is a technology consultancy that rebuilt itself from the ashes of a stockbroking business - it surrendered its broking licence, changed its name from Stampede Capital, and now sells software and financial advisory services to banks, insurers and governments. The company was founded in 1995 and spent most of its life as a SEBI-registered broker on India’s major exchanges before a decisive pivot in FY22 toward fintech and insurtech, a shift sealed by the incorporation of its tech subsidiary Gayiadi Fintech. Its recurring approach is to stitch together consultancy fees, software-development contracts and strategic equity stakes - often through MOUs and share swaps - around a small core team of 21 people operating from Hyderabad. # Business segments Three engines at different stages - a consultancy cash cow serving banks and insurers, a software-development pipeline fed by government and enterprise contracts, and an early-stage EdTech bet stitched together through equity stakes. ## 1. Financial and management consultancy: the steady fee engine **A project-based advisory shop that earns fees from banks, NBFCs and insurers by helping them manage risk, compliance and technology - no physical products, just billed hours and contracts.** - **Revenue recognised on delivery** - fees are booked only when control of the promised service transfers to the client, and cash collected upfront sits as a contract liability until the work is done, so the balance sheet carries unearned revenue rather than inventory. - **A 21-person operation with institutional discipline** - the company runs on documented Standard Operating Procedures and a risk-management framework that covers loan fraud, identity theft, internal fraud and cyber fraud, supported by firewalls and 16-digit complex passwords. - **Competition is fierce and technology moves fast** - the consultancy operates in a crowded field where new entrants and established players compete, and its heavy reliance on a small number of clients means losing even one could hurt badly. ## 2. Software development and IT services: the contract pipeline **Custom software projects for governments and enterprises, won through MOUs and tenders, with gross margins of roughly 55-60% on the largest disclosed deal.** - **A ₹10 crore government-scale project** - in September 2024 the company was awarded a resource-augmentation and consulting contract by MSK Technologies (India) Private Limited valued at INR 100,000,000, to be delivered both onsite at the client’s premises and offshore from GACM’s own development offices, with an expected gross profit of about 55%-60% of the total order value. - **MOUs fill the pipeline** - three separate agreements signed in August and September 2024 lock in collaboration on IT and ITES services including SMS, voice and data gateway solutions (with Tesync Technology, valued at ₹150 million), software planning for logistics (with Whizzy Logistic Technologies), and an MoU (with Waterwalk Automation). - **A subsidiary and a foreign outpost** - the wholly owned Indian subsidiary Gayiadi Fintech Private Limited builds fintech-related software, while a newly approved UK subsidiary, AURATRUST TECH LIMITED (1,000 ordinary shares of GBP 1 each, 100% held), will carry on software development and information-technology business. - **The objects clause is the licence to expand** - the company’s amended Memorandum of Association authorises it to design, develop, customise, implement, maintain, test and deal in computer software and solutions, run data centres, provide IT-enabled services spanning call centres, pharmaceuticals, finance and legal transcription, and even establish computer-education institutions. ## 3. Strategic EdTech and fintech stakes: the option on tomorrow **Equity positions in AI-driven education and fintech platforms, acquired through share swaps rather than cash, giving the company a claim on government-order books and patented technology.** - **A 30% stake in an AI EdTech company with government orders** - in June 2025 GACM acquired a 30% equity stake in WEXL Edu Private Limited, which holds a confirmed order book of over ₹30 crore (₹25 crore from the Delhi Government, ₹5 crore from the Tamil Nadu Government), formal engagements with NCERT and CBSE, and five registered patents covering AI-based subjective answer correction, offline AI learning systems and English proficiency assessments. - **Acquired through share swaps, not cash** - the Board discussed a proposal to issue equity shares to non-promoters on a preferential basis via a share swap to acquire stakes in Market Simplified India Limited and WEXL EDU Private Limited, preserving cash while expanding the equity portfolio. - **Lean economics with scalable delivery** - WEXL is projected at a valuation of over ₹500 crore, with operating margins on secured projects exceeding 80%, because its AI-driven assessments are delivered digitally with a lean cost structure. # Group structure and partners **A listed holding company with one domestic fintech subsidiary, a newly approved UK subsidiary, and a growing portfolio of minority stakes in EdTech and fintech platforms - all run by a six-member board from Hyderabad.** - The company is listed on BSE and NSE with two classes of equity shares - ordinary shares and shares with Differential Voting Rights (DVR), each with a face value of ₹1 - and its registrar is Venture Capital and Corporate Investments Private Limited in Hyderabad. - The wholly owned subsidiary Gayiadi Fintech Private Limited was incorporated in Hyderabad in August 2021 with a paid-up capital of ₹15 lakh and is engaged in fintech-related software and technology development. - The Board approved the incorporation of a wholly owned foreign subsidiary in the United Kingdom, AURATRUST TECH LIMITED, in June 2026, with a share capital of 1,000 ordinary shares of GBP 1 each, to carry on software development and information technologies. - The six-member Board includes Managing Director Jonna Venkata Tirupati Rao, Executive Director and CFO Narendra Babu Mugatha (who is the MD’s brother-in-law), and Non-Executive Independent Chairman Anil Thakur; the company secretary Sujata Suresh Jain serves as Compliance Officer. - The company has a history of shedding legacy entities: its former subsidiary Stampede Enterprises India was sold in December 2019, its Singapore step-down subsidiary was struck off, its 37.14% stake in Longfin Corp (USA) was fully impaired after that associate filed for bankruptcy, and its SEBI Portfolio Management Services licence was surrendered in March 2023 without ever being used.