Small-cap IT stock below ₹20 sets board meeting date to declare fundraise
Small-cap IT stock: Blue Cloud Softech Solutions Ltd announced that the company's board of directors will meet on Friday, 23 May 2025, at 4 p.m. to discuss many aspects, including the approval of a fundraiser, according to the exchange filing.
According to the filing data, the company will finalise an acquisition move outside India either through 'cash or swap of equity shares' or a combination of both.
Along with the acquisition move, the company's board will also approve a fundraiser involving the issuance of foreign currency convertible bonds (FCCBs). The board may also discuss any other topic of business after the chairman's permission.
'Raising of funds by way of issuance of Foreign Currency Convertible Bonds (FCCBs) subject to regulatory and other approvals, as may be required,' said the company in the BSE filing.
Blue Cloud Softech Solutions shares closed 1.98 per cent higher at ₹ 19.01 after Friday's market close, compared to ₹ 18.64 at the previous stock market session. The company announced the fundraising development after the market operating hours on 16 May 2025.
Blue Cloud Softech shares have given stock market investors more than 233 per cent returns on their investments in the last five years. However, the shares have lost a little over 48 per cent in the last one-year period.
On a year-to-date (YTD) basis, the stock has lost 61.23 per cent in 2025, but is trading 23.12 per cent higher in the last one-month period.
The shares hit their 52-week high levels at ₹ 130.50 on July 29, 2024, while the 52-week low levels were at ₹ 14.95 on April 17, 2025, according to data collected from the BSE website. The shares are currently trading marginally above their year-low levels.
The software products firm's market capitalisation (M-Cap) was at ₹ 829.37 crore as of the stock market close on Friday, 16 May 2025.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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