We wish to inform you that pursuant to the in-principle approval received for the swap of equity shares through preferential allotment for the acquisition of M/s AIS Anywhere, the Board ....
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The Board of Directors of Blue Cloud Softech Solutions Ltd has approved the allotment of 31,68,00,000 (31.68 crore) equity shares on a preferential basis as part of a share swap arrangement to acquire M/s AIS Anywhere. The shares were issued to two allottees: promoter Mrs Janaki Yarlagadda received 14,10,75,000 shares (~14.11 crore), while non-promoter M/s Siraj Holdings LLC received 17,57,25,000 shares (~17.57 crore). Following this allotment, AIS Anywhere has become a wholly owned subsidiary of the company. This follows the in-principle approval already received for the share swap.
The transaction makes AIS Anywhere a wholly owned subsidiary, expanding the company's business footprint without a cash outflow; however, the significant issuance of new shares (~31.68 crore) will lead to equity dilution for existing shareholders and a notable change in the shareholding structure.