Blue Cloud Softech Solutions Raises \$50 Million Through Foreign Currency Bonds
Blue Cloud Softech Solutions Stock Soars After Fundraise Announcement
Shares of small-cap stock Blue Cloud Softech Solutions Limited are expected to be in the spotlight on Monday following a major announcement. The company’s board of directors has given the green light to several strategic initiatives, including a plan to raise up to USD 50 million through the issuance of Foreign Currency Convertible Bonds (FCCBs). This move is subject to approval from both regulators and shareholders.
Boosting Growth and Expanding Horizons
The company’s board has authorized an increase in its Authorised Share Capital from ₹63,00,00,000 to ₹80,00,00,000, allowing it to issue 80,00,00,000 equity shares at Re 1 each. This capital boost aims to fuel Blue Cloud Softech Solutions’ ambitious growth plans.
Strategic Investments and Acquisitions
Furthermore, the board has approved an investment limit of up to ₹1,300 crore for investments in both domestic and international entities. This significant allowance, exceeding the requirements outlined in Section 186 of the Companies Act, 2013, underscores the company’s commitment to future expansion.
In a strategic move, the board has also unanimously agreed to a Preferential Allotment of 32,00,00,000 equity shares in a share swap arrangement to acquire AIS Anywhere, a global technology solutions company headquartered in New Jersey. This acquisition, valued at ₹752.32 crore, will solidify Blue Cloud Softech Solutions’ presence in the US market.
A Powerful Combination
AIS Anywhere specializes in AI, data analytics, cybersecurity, IoT, and enterprise solutions, making it a valuable addition to Blue Cloud Softech Solutions’ portfolio. By integrating AIS Anywhere’s expertise, Blue Cloud aims to strengthen its offerings and expand its reach in key technological domains.
Company Profile
Based in Hyderabad, Telangana, Blue Cloud Softech Solutions is a leading provider of AIoT-based solutions, focusing on AI-enhanced healthcare and technology products. The company is dedicated to innovation and empowering businesses and communities through cutting-edge, homegrown technology solutions.
Recent Share Performance
On Friday, Blue Cloud Softech Solutions share price ended 2% higher at ₹20.09 apiece on the BSE, indicating investor confidence in the company’s strategic direction.
