Small cap IT company gains as promoter increases stake to 38.06 percent, check share price

Recently, the company had informed in its exchange filing that it has been empanelled as the official partner for Bharat Sanchar Nigam Limited (BSNL)'s 5G Fixed Wireless Access (5G FWA) services.

The promoter of the small-cap IT company, Blue Cloud Softech Solutions Ltd, has increased his stake in the company. According to the information received from the company’s latest exchange filing, the company’s promoter, Yarlagadda Janaki, has increased his stake in the company.

This acquisition was made through preferential allotment. Prior to the acquisition, Yarlagadda Janaki held 14,55,75,960 shares in the company, and 14,10,75,000 new shares have been allotted to them. Following this acquisition, Yarlagadda Janaki now holds a total of 28,66,50,960 shares. This means that Yarlagadda Janaki previously held 33.37% of the shares and now holds 38.06%.

Before the acquisition, the total equity share capital of the company, i.e. total voting capital, was 43,62,81,600 shares, which has increased to 75,30,81,600 shares after preferential allotment.

The company’s stock was trading at Rs 24.61, up 0.40% or Rs 0.10 on the BSE.

Recently, the company had informed in its exchange filing that it has been empanelled as the official partner for Bharat Sanchar Nigam Limited (BSNL)’s 5G Fixed Wireless Access (5G FWA) services.

Under this empanelment, Blue Cloud Softech Solutions Ltd (BCSSL) will provide Internet Leased Line (ILL) services in Maharashtra and Goa circles, further strengthening the company’s presence in Western India.

The company stated that through this partnership, it will deploy 5G FWA solutions for enterprise and institutional customers. Blue Cloud Softech will also offer its leading digital products, such as Access Genie (a secure authentication and network control platform), BluHealth (a digital health ecosystem with telemedicine, remote monitoring, and secure patient data management), and Cyber Security SoHo EDR (an advanced cybersecurity solution for small offices and home offices).