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 FCCB 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/
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