Blue Cloud Softech witnessed its share price hit the upper circuit as the market anticipates significant developments ahead of its Extraordinary General Meeting (EGM) on June 27, 2025. The company has added crucial items to its agenda, including enhancing borrowing powers and approving asset charges.
The company has called an Extraordinary General Meeting (EGM) on Friday, June 27, 2025. The meeting will consider 2 new special resolutions aimed at strengthening the financial and strategic framework of the business.
One of the key resolutions seeks shareholders’ approval to authorise the Board of Directors to raise borrowings up to ₹2,000 crore. This includes both fund-based and non-fund-based facilities that exceed the current limits of paid-up capital, free reserves, and securities premium. Borrowings may be raised in Indian or foreign currencies through instruments such as loans, debentures, and commercial papers.
In line with the proposed borrowing, the company is also requesting approval to create charges or mortgages on its current and future movable and immovable assets. This will help secure the proposed borrowings. The resolution also empowers the Board to take necessary actions in cases involving default, restructuring, or other borrowing-related decisions.
On June 13, 2025, the Board of Directors approved a 100% equity-based acquisition of AIS Anywhere, a New Jersey-headquartered technology company. The acquisition will be executed through a share swap, under which 31.68 crore equity shares of Blue Cloud Softech will be issued in exchange for 6.4 crore shares of AIS Anywhere.
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The equity swap will be conducted at a ratio of 4.95 Blue Cloud shares for every 1 AIS Anywhere share. The issue price has been fixed at ₹23.06 per share, including a face value of ₹1 and a premium of ₹22.06. The total transaction is valued at ₹730.54 crore.
The share allocation is as follows:
Post-acquisition, AIS Anywhere will become a wholly owned subsidiary of Blue Cloud Softech. Mrs. Janaki Yarlagadda, who previously held a 44.53% stake in AIS Anywhere, will no longer hold any shares in the acquired entity.
Blue Cloud Softech share price hit an upper circuit limit of 2% on June 24, 2025. The stock settled at ₹29.71.
The acquisition is part of Blue Cloud Softech’s strategy to expand horizontally into global markets. AIS Anywhere offers specialised capabilities in Artificial Intelligence, Data Analytics, Cybersecurity, IoT, and Enterprise Solutions. The move is expected to help Blue Cloud Softech gain deeper access to the US technology ecosystem and strengthen its global delivery capabilities.
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Published on: Jun 24, 2025, 4:01 PM IST
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