Kellton Tech Solutions Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/05/2025 ,inter alia, to consider and approve the issuance of Foreign ....
KELLTONTEC · price
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Kellton Tech Solutions has informed BSE and NSE that its Board of Directors will meet on May 13, 2025 to consider and approve the issuance of Foreign Currency Convertible Bonds (FCCBs). The company has already received shareholder approval via postal ballot conducted from December 23, 2024 to January 22, 2025, and in-principle approvals from both stock exchanges on February 20, 2025. The FCCB issuance is subject to applicable regulatory and statutory approvals. FCCBs are overseas debt instruments that can be converted into equity shares at a later date, typically used by companies to raise foreign currency funding.
If approved, the FCCB issuance will help Kellton Tech raise foreign currency funds for business growth or debt refinancing. Potential dilution risk exists if bondholders choose to convert FCCBs into equity shares in the future. Shareholders should watch for pricing and conversion terms once announced.