The company informed the exchanges that Anant Raj Cloud Pvt. Ltd., a wholly-owned subsidiary of Anant Raj, has entered into an MoU with Google LLC, an American global technology company.
As per this MoU, both companies will collaborate to provide data center infrastructure, DC managed services and cloud platform to various public and private enterprises.
Through the MoU, both parties also intend to develop innovative technological solutions for potential customers.
Both parties will also collaborate closely to assist customers in developing purpose-built, AI-infused solutions for data infrastructure, productivity and security.
Neither any financial consideration nor a timeline has been shared by Anant Raj for the MoU.
Promoters of Anant Raj currently hold a 60% stake in the company at the end of the June quarter, while India’s domestic institutions hold close to 4.5% stake in the company.
Shares of Anant Raj are trading 10.5% higher post this announcement at ₹531. The stock has gained 80% so far in 2024, having hit a record high of ₹552 in today’s trading session. Over the last 12 months, the stock has nearly tripled in value, gaining 193%.