• Source:JND
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The shares of the IT company Blue Cloud Softech Solutions hit the upper circuit limit on Monday amid a rally in stock indices. The stock opened at Rs 26.41, which was also the upper circuit, up 1.97 per cent against the previous session's closing price of Rs 25.90. Over the past four days, the company has been increasing, rising 8.1% during this time. 

Meanwhile, the company has informed exchanges that it has approved the revised date for acquiring New Jersey-based AIS Anywhere. The new date for this purpose has been set by the company as June 10, 2025. The company will also decide on the acquisition's share swap ratio during the meeting.

The board of Blue Cloud authorised a sizeable investment cap of Rs 1,300 crore for future expansion. Through a share swap agreement, AIS Anywhere will be acquired for Rs 752.32 crore, becoming a wholly-owned subsidiary (5 Blue Cloud shares for every 1 AIS Anywhere share). By taking advantage of AIS Anywhere's experience in AI, data analytics, cybersecurity, IoT, and enterprise solutions, Blue Cloud hopes to increase its market share in the US.

Because of its broad experience in many important technology areas, AIS Anywhere is able to handle the many opportunities and challenges that contemporary businesses face.

Total Purchase Price

It is anticipated that the share purchase will be finished within a year of the agreements being signed. This acquisition will cost Rs 730.54 crore.

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The business will issue and distribute 31,68,00,000 fully paid-up equity shares with a face value of Rs 1 each, at a premium of Rs 22.06 per share, for a total of Rs 730,54,08,000 in consideration other than cash.

Disclaimer: This is just a piece of news about recent development in the stock. Jagran does not advise investing. Please take an expert opinion before investing.