Latest news with #SecurityIssuanceCommittee
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
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.
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.
