The Board by passing a unanimous resolution approved the Issuance of 32,00,00,000 Equity Shares on a Preferential Basis wherein the company is purchasing 6,40,00,000 shares of M/s AIS Anywhere in lieu of issuance of 32,00,00,000 Equity Shares by way of share swap to Mrs. Janaki Yarlagadda (Promoter) and others (Public) in accordance with Section 62 of the Act read with relevant rules framed thereunder and Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ('SEBI ICDR Regulations') to allottees as mentioned in Annexure I. Based on the valuation report of the Registered Valuer A.N Gawade and the issue price as decided by the Board of Directors and approved by the Committee of Independent Directors, 5 shares of Blue Cloud will be issued for every 1 share of M/s AIS Anywhere. This will result in M/s AIS Anywhere becoming the wholly owned subsidiary of the Company.