SecureKloud Technologies Ltd approves fund raising by subsidiaries

The Board of Directors ("Board") of SecureKloud Technologies Limited (Formerly 8K Miles Software Services Limited) ("the Company") at its meeting held today, i.e., Monday, August 30, 2021, have approved the capital raising proposal by overseas subsidiaries.

Blockedge Technologies Inc., USA:

The Board accorded its consent for the proposal to raise capital up to USD 100 Million instead of USD 20 Million which was approved on August 06, 2021 in single or multiple tranches by its overseas wholly owned subsidiary Blockedge Technologies Inc., USA (formerly 8K Health Cloud Inc., USA) for growth and expansion by way of PE Investments / Initial Public Offering (IPO) in the US Capital markets / SPAC / ICO and / or Other Strategic Investors subject to the approval of shareholders in the ensuing Annual General Meeting scheduled on September 30, 2021. Consequent to this fund raise, the Company may cease to have control over Blockedge Technologies Inc., USA (formerly 8K Health Cloud Inc, USA).

Healthcare Triangle Inc., USA:

The Board accorded its consent to raise an additional capital by Healthcare Triangle Inc., USA, an overseas step-down subsidiary of the Company up to USD 100 Million by way of PE Investments / primary issue of shares in the US Capital markets and / or Other Strategic Investors subject to the approval of shareholders in the ensuing Annual General Meeting scheduled on September 30, 2021.

SecureKloud Technologies, Inc., USA:

The Board accorded its consent to raise capital by SecureKloud Technologies Inc., USA, an overseas subsidiary of the Company (formerly 8K Miles Software Services Inc., USA) up to USD 100 Million for growth and expansion by way of PE Investments / Initial Public Offering (IPO) in the US Capital markets / SPAC / Secondary sale of shares and / or Other Strategic Investors subject to the approval of shareholders in the ensuing Annual General Meeting scheduled on September 30, 2021. Consequent to this fund raise, the Company may cease to have control over Securekloud Technologies Inc., USA (formerly 8K Miles Software Services Inc., USA).

Shares of SECUREKLOUD TECHNOLOGIES LIMITED was last trading in BSE at Rs. 130.5 as compared to the previous close of Rs. 113.95. The total number of shares traded during the day was 174916 in over 3804 trades.

The stock hit an intraday high of Rs. 136.7 and intraday low of 114.25. The net turnover during the day was Rs. 22488427.

Source : Equity Bulls

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