Stock Market Today: Having risen 625% rally in five years, the Multibagger stock Kellton Tech Solutions share price gained higher on Tuesday despite stock market crash. Here’s why
Kellton Tech Solutions -Board meeting outcome on FCCB Issue
Kellton Tech Solutions intimated the National Stock Exchange of India and the BSE Ltd on Tuesday 13 , May 2025 about the outcome of the Board meeting. The Board of Directors of Kellton Tech Solutions gave Approval of $ 10,000,000 of 6.50% Senior Unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited (“FCCBs”)
Kellton Tech Solutions had intimation on May 08, 2025, about having obtained the approval of the members of the Company through Postal Ballot conducted between December 23, 2024 and January 22, 2025, for the proposed issuance of foreign currency convertible bonds (FCCBs).
Kellton Tech Solutions said based on the In-principle approvals granted by BSE Limited and National Stock Exchange of India Limited on February 20, 2025, the Board of Directors of the Company, at its meeting held on May 13, 2025, has, considered and approved the matters in connection with the aforesaid offering,
While the Board approved the Issuance of $ 10,000,000 6.50% senior unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited (“FCCBs”), it also approved the ‘Relevant Date’ for the purpose of the Issue of FCCBs as May 13, 2025 in accordance with the Issue of Foreign Currency Convertible Bonds and Ordinary Shares
Regulatory Floor Price Also the regulatory floor price as determined in accordance with the FCCBs Guidelines is Rs.107.00, the Final identification of investors and other associated matters shall be subject to the outcome of the open offer process, and the same shall be intimated in due course , said Kellton Tech Solutions
Kellton Tech Solutions share price movement
Kellton Tech Solutions share price opened at ₹111.35 on the BSE on Tuesday at at the time of opening was trading higher compared to previous day’s closing price of ₹109.95. The Kellton Tech Solutions share price thereafter gained to intraday highs of 112.30, which meant gains of more than 2% on a day when Sensex was down more than 1.5% down amid stock market crash.
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