Multibagger IT Stock in Focus as Company Updates on Ongoing FCCBs Issue; Details Inside
The stock is up by 38 per cent from its 52-week low of Rs 85.10 per share and a whopping 630 per cent in 5 years.
On Wednesday, shares of Kellton Tech Solutions Limited gained 0.7 per cent to an intraday high of Rs 117.30 per share from its previous closing of Rs 116.50 per share. The stock’s 52-week high is Rs 184.30 per share and its 52-week low is Rs 85.10 per share.
Kellton Tech Solutions Limited successfully closed its Foreign Currency Convertible Bonds (FCCBs) issue today, May 20, 2025, raising USD 10 million. This follows the opening of the subscription period on May 16, 2025. The company had previously secured shareholder approval on January 22, 2025, and in-principle approvals from BSE Limited and National Stock Exchange of India Limited on February 20, 2025, for this issuance.
The FCCBs, which are 6.5% senior unsecured bonds due 2035, were issued at 100% of their principal value. The initial conversion price for these bonds is set at Rs 106, with 10,000 bonds, each having a face value of USD 1000, to be allotted. These bonds are convertible into fully paid-up equity shares of Rs 5 each. The credit of these bonds to subscribers is anticipated on May 22, 2025, subject to the timely receipt of funds, fulfilment of precedent conditions, and compliance with all relevant laws and regulations. Further details on the terms and conditions are available in the Offering Circular.
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About Kellton Tech Solutions Limited
Kellton is a global technology consulting and IT services company founded on the belief of exploring ‘Infinite Possibilities with Technology.’ Kellton helps businesses of all sizes, ranging from startups to SMEs and Fortune 500s, build disruptive digital solutions. With operations across the US, Europe, India, and the Asia Pacific and a global team of 1800+ employees, Kellton enables clients to use technology as their competitive advantage. Kellton has been placed four times on the Deloitte Technology Fast 50 India List and recognised by Forbes Asia as one of the Top 200 companies in their ‘Best Under a Billion’ List.
The company has a market cap of over Rs 1,100 crore. The stock is up by 38 per cent from its 52-week low of Rs 85.10 per share and a whopping 630 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.