Multibagger IT Stock In Green As Company Issued 6.50% Senior Unsecured FCCBs of USD 1,00,00,000; Due in 2035
The stock is up by 32 per cent from its 52-week low of Rs 85.10 per share and a whopping 700 per cent in 5 years.
On Tuesday, shares of Kellton Tech Solutions Limited gained 2.14 per cent to Rs 112.30 per share from its previous closing of Rs 109.95 per share with a spurt in volume by more than 1.05 times on BSE. The stock’s 52-week high is Rs 184.30 per share and its 52-week low is Rs 85.10 per share.
The Board of Directors of Kellton Tech Solutions Limited convened on May 13, 2025, and approved the issuance of USD 10,000,000 of 6.50 per cent senior unsecured foreign currency convertible bonds (FCCBs) due in 2035. This decision follows the approval received from the company's members via a postal ballot conducted between December 23, 2024, and January 22, 2025, for the proposed FCCB issuance. Furthermore, the company had already secured in-principle approvals from BSE Limited and the National Stock Exchange of India Limited on February 20, 2025.
In connection with this offering, the Board also approved the Offering Circular dated on or about May 13, 2025. Additionally, they designated May 13, 2025, as the 'Relevant Date' for the purpose of the FCCB issue, under the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, as amended. Consequently, the regulatory floor price for the conversion of these FCCBs has been determined to be ₹107.00.
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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 1,000 crore. The stock is up by 32 per cent from its 52-week low of Rs 85.10 per share and a whopping 700 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.