Multibagger IT Stock In Green As Company Issues USD 10 Million FCCBs at Rs 106 Floor Price, 10-Year Tenure and 6.5 Per Cent Coupon
The stock is up by 36 per cent from its 52-week low of Rs 85.10 per share and a whopping 700 per cent in 5 years.
On Wednesday, shares of Kellton Tech Solutions Limited gained 3.35 per cent to Rs 115.6 per share from its previous closing of Rs 111.85 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 issued Foreign Currency Convertible Bonds (FCCBs). It follows a prior communication on May 13, 2025 (KTSL/2025-2026/003). The Security Issuance Committee approved the opening of the FCCB issuance on May 16, 2025. The "Relevant Date" for the FCCB issuance, as per Clause 5(4)(ca) of the FCCB Scheme, is May 14, 2025. The floor price for the issuance is Rs. 106.00 per Equity Share. The total FCCB issuance amount is approximately USD 10 million.
The FCCBs are being issued internationally. The USD 10 million issue is equivalent to approximately Rs 85.3 crore. Based on the floor price, this translates to approximately 8,047,170 equity shares of Re 5 each upon conversion. The FCCBs will be allotted within 30 days of the Issue Closing Date, have a tenure of 10 years and 1 month from the date they are fully paid-up, and carry a coupon rate of 6.5 per cent per annum.
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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 36 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.