ITTB Software Private Limited, Janaki Yarlagadda, and Janardhana Doranala Sarma made an offer to acquire 26% stake in Blue Cloud Softech Solutions Limited for approximately INR 100 million.

ITTB Software Private Limited, Janaki Yarlagadda, and Janardhana Doranala Sarma made an offer to acquire 26% stake in Blue Cloud Softech Solutions Limited (BSE:539607) for approximately INR 100 million on February 17, 2023. As per the terms, the offer per share is INR 3. In a related transaction, ITTB Software Private Limited, Janaki Yarlagadda, and Janardhana Doranala Sarma entered into a share purchase agreement to acquire 34.51% stake. The Committee of Independent Directors of Blue Cloud Softech Solutions unanimously recommended the offer.

The offer is not a competing offer and is not conditional upon any minimum level of acceptance. The offer period will commence on August 2, 2023, and close on August 17, 2023. S Ramakrishna Iyengar of Finshore Management Services Limited acted as a manager to the offer.

Aarthi Consultants Private Limited acted as registrar and share transfer agent to the offer.