This company to Raise USD 10 Million via FCCBs; Issuance to Open on May 16
Stock market- File image- For Representational purpose
Shares of Kellton Tech Solutions are in focus after the company announced the opening date for its upcoming foreign currency convertible bond (FCCB) issuance. The tech firm plans to raise USD 10 million through 6.5% senior unsecured FCCBs, which will mature in 2035.
In an exchange filing, Kellton Tech stated that its Board's Security Issuance Committee has approved May 16, 2025, as the official date for the issuance. The bonds will be issued internationally and will carry a 10-year and 1-month maturity period from the date of full payment.
The conversion floor price has been set at Rs 106 per equity share, calculated in accordance with FCCB regulations, with May 14, 2025, designated as the relevant pricing date.
'Issuance of USD 10,000,000 6.50% senior unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited ('FCCBs'),' the company confirmed in its regulatory disclosure.
Meanwhile, domestic equity benchmarks were under pressure in early trade Thursday, dragged by losses in major banking stocks and negative cues from Asian markets.
The BSE Sensex fell 106.78 points to 81,223.78, while the NSE Nifty slipped 38.45 points to 24,628.45. Later, the Sensex was down 247.22 points at 81,082.80, and the Nifty declined 67.15 points to 24,599.75.
Top laggards on the Sensex included Power Grid, IndusInd Bank, Axis Bank, Sun Pharma, Infosys, Mahindra & Mahindra, Kotak Mahindra Bank, and HDFC Bank. On the other hand, Tata Motors, Adani Ports, Tata Steel, Tech Mahindra, and UltraTech Cement emerged as top gainers.
In Asia, key indices such as South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng were trading in the red.
US markets ended on a mixed note on Wednesday. Meanwhile, Global oil benchmark Brent crude dropped 2.10 per cent to USD 64.70 a barrel.
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