Latest news with #KelltonTech
India.com
19-05-2025
- Business
- India.com
This company defies IT stocks slump, gains amid this update
सेफ इंवेस्टमेंट का भी करें इंतजाम Shares of Kellton Tech Solutions, an IT consulting firm, traded in the green on Monday despite broader weakness in the information technology sector, which weighed down benchmark indices Sensex and Nifty. The stock opened higher at Rs 118.70 on the National Stock Exchange (NSE), up from the previous close of Rs 117.98, and climbed further to touch an intraday high of Rs 120.30. At last check, it was trading at Rs 119.33, marking a gain of about 1.14 per cent. This performance stands out as most IT stocks traded lower, with the Nifty IT index slipping more than 1%. Over on the BSE, Kellton Tech opened at Rs 119.40 and peaked at Rs 120.35 during intraday trading. The stock has a 52-week high of Rs 184.30 and a 52-week low of Rs 85.10, with a current market capitalization of approximately Rs 1,164 crore. The upward momentum comes after the company's board approved the issuance of $10 million in Foreign Currency Convertible Bonds (FCCBs). These will be 6.5% senior unsecured bonds, maturing in 2035, with a minimum conversion price of ₹106 per share. The bonds will be issued internationally, as detailed in an exchange filing. In terms of performance, Kellton Tech has delivered a multibagger return of 100.50 per cent over the past two years, and 22.86 per cent over the past year, though it has corrected by 23 per cent in 2025 so far. Meanwhile, the broader market showed weakness. The Sensex dropped 214.59 points to 82,116, while the Nifty slipped 54 points to 24,965.80 in early trade. Major IT stocks such as Infosys, TCS, HCL Tech, and Tech Mahindra were among the top losers, while NTPC, Asian Paints, Bajaj Finance, and Hindustan Unilever managed to gain. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading lower. US markets ended in the positive territory on Friday. Global oil benchmark Brent crude dipped 0.37 per cent to USD 65.17 a barrel.
Mint
18-05-2025
- Business
- Mint
700% rally in five years! Small-cap stock in focus after allotment of foreign currency bonds
Small-cap company Kellton Tech share price will remain in focus in Monday's trading session after the company announced the issuance of Foreign Currency Convertible Bonds (FCCBs) totaling $10 million, with a minimum conversion price of ₹ 106 per equity share. Kellton Tech share price ended 2.73 per cent higher on Friday at ₹ 118.50. The stock has rallied over 684.77 per cent in past five years. The announcement precedes the bond offering scheduled to open on May 16, 2025, after receiving board approval earlier this week. In a regulatory filing, the company announced that its Security Issuance Committee has been given the authority to oversee the entire process of issuing FCCBs, as approved during the board meeting on May 14, 2025. These FCCBs will be offered in international markets and will take the form of 6.5% senior unsecured bonds, set to mature 10 years and 1 month after full payment is made. The minimum conversion price has been set in line with the FCCB Scheme, using May 14, 2025, as the reference date for pricing. At a conversion rate of ₹ 85.3 per US dollar, the bond issuance amounts to roughly ₹ 85.3 crore. Once fully converted, it would lead to the issuance of about 80.47 lakh equity shares, each with a face value of ₹ 5. The company plans to complete the allocation of FCCBs within 30 days from the issue's closure. The filing also emphasized that the company has a clean track record with no past defaults on FCCB commitments. Additionally, there are no current plans to issue preferential or bonus shares in connection with this offering. This step highlights Kellton Tech's strategy to strengthen its capital base and support future expansion through a mix of funding sources. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
15-05-2025
- Business
- India.com
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.
Mint
15-05-2025
- Business
- Mint
Kellton Tech to issue $10 million in FCCBs at ₹106 floor price; bond issuance opening on May 16
Kellton Tech Solutions set to raise capital through 6.5 percent FCCBs maturing in 2035; Share price gains as investors react to issuance terms. Kellton Tech Solutions has announced the issuance of Foreign Currency Convertible Bonds (FCCBs) worth USD 10 million, with a floor price set at ₹ 106 per equity share. The announcement comes ahead of the bond issuance opening on May 16, 2025, following board approval granted earlier this week. In a regulatory filing, the company disclosed that the Security Issuance Committee, following the board meeting held on May 14, 2025, has been authorised to manage the entire FCCB issuance process. The FCCBs will be issued internationally and are structured as 6.5 percent senior unsecured bonds with a maturity period extending to 10 years and 1 month from the date of full payment. The floor price for conversion has been determined in accordance with the FCCB Scheme, using May 14, 2025, as the relevant date for pricing calculations. At a conversion rate of INR 85.3 per USD, the bond issuance translates to approximately ₹ 85.3 crore, which upon full conversion, would result in the allotment of nearly 80.47 lakh equity shares of ₹ 5 each. The company expects to complete the allotment of FCCBs within 30 days from the issue's closing date. Notably, the filing also clarified that there have been no defaults in the company's past FCCB obligations, and there is no proposal to issue preferential or bonus shares alongside this offering. The move underscores Kellton Tech's focus on shoring up its capital structure to support future growth through diversified funding channels. The market responded positively to the development. On Thursday, May 15, Kellton Tech's shares rose as much as 1.3 percent in intra-day trade to touch ₹ 117.10. While still over 36 percent below its 52-week high of ₹ 184.30 recorded in July 2024, the stock has shown signs of recovery. It has gained nearly 38 percent from its 52-week low of ₹ 85, hit in June 2024. Over the past year, the stock has appreciated 20 percent. Notably, after enduring four straight months of losses, the stock has rebounded in May with a near 9 percent gain so far. It had declined 0.5 percent in April, 1.4 percent in March, 25.4 percent in February, and 3 percent in January.
Mint
15-05-2025
- Business
- Mint
Kellton Tech to issue $10 million in FCCBs at ₹106 floor price; bond issuance opening on May 16
Kellton Tech Solutions set to raise capital through 6.5 percent FCCBs maturing in 2035; Share price gains as investors react to issuance terms. Kellton Tech Solutions has announced the issuance of Foreign Currency Convertible Bonds (FCCBs) worth USD 10 million, with a floor price set at ₹ 106 per equity share. The announcement comes ahead of the bond issuance opening on May 16, 2025, following board approval granted earlier this week. In a regulatory filing, the company disclosed that the Security Issuance Committee, following the board meeting held on May 14, 2025, has been authorised to manage the entire FCCB issuance process. The FCCBs will be issued internationally and are structured as 6.5 percent senior unsecured bonds with a maturity period extending to 10 years and 1 month from the date of full payment. The floor price for conversion has been determined in accordance with the FCCB Scheme, using May 14, 2025, as the relevant date for pricing calculations. At a conversion rate of INR 85.3 per USD, the bond issuance translates to approximately ₹ 85.3 crore, which upon full conversion, would result in the allotment of nearly 80.47 lakh equity shares of ₹ 5 each. The company expects to complete the allotment of FCCBs within 30 days from the issue's closing date. Notably, the filing also clarified that there have been no defaults in the company's past FCCB obligations, and there is no proposal to issue preferential or bonus shares alongside this offering. The move underscores Kellton Tech's focus on shoring up its capital structure to support future growth through diversified funding channels. The market responded positively to the development. On Thursday, May 15, Kellton Tech's shares rose as much as 1.3 percent in intra-day trade to touch ₹ 117.10. While still over 36 percent below its 52-week high of ₹ 184.30 recorded in July 2024, the stock has shown signs of recovery. It has gained nearly 38 percent from its 52-week low of ₹ 85, hit in June 2024. Over the past year, the stock has appreciated 20 percent. Notably, after enduring four straight months of losses, the stock has rebounded in May with a near 9 percent gain so far. It had declined 0.5 percent in April, 1.4 percent in March, 25.4 percent in February, and 3 percent in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
