Archive · 21 May 2025
Kellton Tech Raises $10M via Convertible Bond Issue
A small-cap company, Kellton Tech Solutions, has raised money by issuing bonds.
These are called Foreign Currency Convertible Bonds (FCCBs), meaning they can be turned into company shares later.
The company raised 10 million US dollars through this.
The bonds have a fixed interest rate and will mature in about a decade.
Initially, one share can be converted from the bond at a price of Rs.
106.
The stock price fluctuated slightly on the BSE after the announcement.
Kellton Tech Solutions closed its Foreign Currency Convertible Bond (FCCB) issue.
The company raised USD 10 million through the FCCB offering.
FCCBs are 6.5% senior unsecured bonds with a 10-year and 1-month maturity.
The initial conversion price of the FCCBs is set at Rs. 106 per share.
The stock opened in the green but later decreased, trading at Rs 115.95.
- Who
- Kellton Tech Solutions
- What
- Kellton Tech Solutions closed a Foreign Currency Convertible Bond (FCCB) issue and raised USD 10 million.
- When
- Closed on Tuesday, May 20, 2025.
- Where
- Internationally
- Why
- To raise capital.
- Company
- Kellton Tech Solutions
- Amount Raised
- USD 10 million
- Bond Type
- Foreign Currency Convertible Bond (FCCB)
- Interest Rate
- 6.5%
- Maturity
- 10 years, 1 month
- Conversion Price
- Rs. 106 per share