Latest news with #KelltonTechSolutions
Mint
24-05-2025
- Business
- Mint
650% rally in five years! Small-cap multibagger stock in focus after issuance of foreign currency bonds
Kellton Tech Solutions share price is expected to remain in focus on Monday after the company announced the issuance of foreign currency bonds. The company's board of directors has approved the allotment of the Foreign Currency Convertible Bonds (FCCBs) worth $10 million to eligible investors. The Security Issuance Committee of the Board of Directors of the Company, at its meeting held on May 23, has approved the allotment of 10,000 FCCBs with a face value of $1,000 per bond, aggregating to a total of $10,000,000, Kellton Tech Solutions said in a regulatory filing. The bonds carry a coupon rate of 6.5% per annum and have a tenure of 10 years, maturing in 2035. The initial conversion price has been set at ₹ 106 per equity share, it added. Kellton Tech Solutions share price has gained 2% in one month, but the small-cap stock has fallen 25% on a year-to-date (YTD) basis. Over the past six months, Kellton Tech Solutions shares have declined 17%. Despite the recent weakness, Kellton Tech Solutions shares have delivered multibagger returns in the long term. The smallcap stock has rallied 93% in two years and has jumped more than 650% in the past five years. On Friday, Kellton Tech Solutions share price ended 0.30% higher at ₹ 117.25 apiece on the BSE. 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.
Mint
21-05-2025
- Business
- Mint
650% rally in five years! Multibagger small-cap stock Kellton Tech Solutions declares closure of FCCB issue
Stock Market Today: Having seen a 650% rally in five years by the Multibagger small-cap stock Kellton Tech Solutions The stock remains in news having declared closure of FCCB issue. Check details Multibagger small-cap stock Kellton Tech Solutions on Tuesday 20 May 2025 intimated the National Stock Exchange of India and the BSE or Bombay Stock Exchange about is FCCB issue. Multibagger small-cap stock Kellton Tech Solutions said that In continuation to its earlier communication dated May 16, 2025, regarding the opening of the Foreign Currency Convertible Bond issue or FCCB Issue for subscription, it wishes to inform you that the said FCCB Issue has been successfully closed as of the end of business hours on Tuesday May 20, 2025. The Company Kellton Tech Solutions thereby has successfully raised USD 10 million from the offering (Foreign Currency Convertible Bond issue or FCCB), as per the relase on the exchanges. The Board of Director of the Board of Kellton Tech Solutions at their meeting held on May 14, with consent of the members of the Company obtained by means of passing requisite resolution earlier (January 22, 2025) and after achieving In-principle Approval dated February 20, 2025 obtained from the BSE Limited, and alsp from the National Stock Exchange of India Limited, proposed issue of the Foreign Currency Convertible Bonds ('FCCBs') for an aggregate amount not exceeding Rs. 100 Crores and its equivalent if foreign currency The Board had approved the issue of $10,000,000 aggregate value of FCCBs at 100% of its principal value. The the Initial Conversion price of the FCCB'S was set to be Rs.106/-. The company planned to allot 10,000 6.5 per cent. senior unsecured foreign currency convertible bonds due 2035 of face value of $1000 each, convertible into fully paid-up equity shares of face value of Re.5 each of the Company at a price of Rs.106/ 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
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.
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.
