Smallcap IT company trades in green post MoU worth Rs 400 crore in THIS state: Check details here

Blue Cloud will launch its flagship project, 'BluBio,' in major cities like Amaravati or Visakhapatnam. This high-tech project will be built on an area of approximately 30 acres and will generate over 1,200 direct jobs by 2027.

Small-cap IT company Blue Cloud Softech Solutions Limited, with a market cap of Rs 1,077.62 crore, made important disclosures in its latest exchange filing at 10 am today, following which the stock is seeing a rise of over 2%. As of 10:42 am, the company’s stock was trading at Rs 24.70, up 2.11% or Rs 0.51 on the BSE.

The company, in its latest exchange filing today, said it has signed an MoU with the Andhra Pradesh Economic Development Board (APEDB), under which it will invest approximately ₹400 crore in the healthcare sector in Andhra Pradesh. The MoU was signed at APIIC Towers in Mangalagiri, Gorakhpur district, in the presence of senior officials from both organizations.

Under this agreement, Blue Cloud will launch its flagship project, ‘BluBio,’ in major cities like Amaravati or Visakhapatnam. This high-tech project will be built on an area of approximately 30 acres and will generate over 1,200 direct jobs by 2027.

Additionally, the project is expected to generate approximately 20,000 indirect jobs, including those in supply chain, logistics, service providers, and other supporting industries, both large and small.

The company stated in its filing that the project is designed to advance new technologies in key sectors such as healthcare, defense, finance, and cybersecurity. The BluBio project aims to make Andhra Pradesh a leading technology hub in India, serving as a model for other states in the future.

APEDB will play a key role in implementing this investment. It will assist Blue Cloud with obtaining permissions and other necessary paperwork from various state and central government departments. Land allocation and other incentives (such as tax exemptions or subsidies) for the project will be determined by the relevant departments of the Andhra Pradesh government.

This MoU will be effective for 12 months and is a non-binding agreement.

Tejesh Kodali, Group Chairman of Blue Cloud, said that this MoU is a historic step for both Blue Cloud and Andhra Pradesh. Our technology and the state’s progressive thinking will combine to create innovations that will shape future growth and development.