Kellton Tech Solutions Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, ( SEBI Listing Regulations ) - Issuance of Foreign Currency Convertible Bonds ("FCCBs").-Update'.
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On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 0.5 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kellton Tech Solutions has approved the issuance of 10,000 Foreign Currency Convertible Bonds (FCCBs) worth USD 10 million (around Rs. 100 Crores) at 100% of principal value. The bonds carry a 6.5% per annum coupon, are senior unsecured, and mature in 2035 (10-year tenure), with a face value of USD 1,000 each. They are convertible into equity shares of Rs. 5 face value at a conversion price of Rs. 106 per share. The bonds will be credited to subscribers on May 22, 2025, subject to receipt of funds and regulatory conditions. This is an update following the board approval on May 14, 2025, and earlier shareholder and stock exchange approvals.
The USD 10 million raise is modest and provides the company with foreign currency funding at a 6.5% coupon, but existing shareholders may face dilution if bondholders opt to convert at Rs. 106 per share. The Rs. 106 conversion price now serves as a near-term reference level for the stock.