Multibagger IT Stock in Focus as Company issues USD 10 Million FCCBs at 6.5 Per Cent, Convertible at Rs.106, due 2035, allotment on May 22, 2025

The stock is up by 39 per cent from its 52-week low of Rs 85.10 per share and a whopping 675 per cent in 5 years.

On Friday, shares of Kellton Tech Solutions Limited gained 2.5 per cent to Rs 118.25 per share from its previous closing of Rs 115.40 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. The shares of the company saw a spurt in volume by more than 1.37 times on the BSE.

Kellton Tech Solutions Limited has announced the approval for the issuance of Foreign Currency Convertible Bonds (FCCBs) worth USD 1,00,00,000. This decision follows shareholder consent from January 22, 2025, and in-principle approvals from BSE Limited and National Stock Exchange of India Limited on February 20, 2025. The FCCBs, which are 6.5 per cent. senior unsecured bonds due 2035 were approved for issuance at 100% of their principal value by the Company's Security Issuance Committee.

The initial conversion price for these FCCBs is set at Rs 106, based on the relevant date of May 14, 2025. A total of 10,000 bonds, each with a face value of USD 1000, will be allotted. These bonds are convertible into fully paid-up equity shares of Rs 5 each at the conversion price of Rs 106. The bonds are expected to be credited to subscribers on May 22, 2025, pending the receipt of funds, fulfilment of precedent conditions, and adherence to all applicable laws and regulations. The final terms and conditions of the bonds have also been approved and are detailed in the Offering Circular.

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 39 per cent from its 52-week low of Rs 85.10 per share and a whopping 675 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.