2 hrs ago
Kellton Tech Announces Fundraising Through Proposed Rights Issue
Kellton Tech Solutions Limited wants to raise money by offering new shares to its existing shareholders.
This type of offer is called a rights issue.
Shareholders who qualify may be able to buy shares under the offer.
The company has not yet announced the price or the number of shares.
It has also not announced the record date, which determines who can participate.
These details will come after required approvals.
On September 23, the company’s stock was trading slightly higher at ₹13.75.
The article says the stock has fallen over the year but risen over the past five years.
Kellton Tech Solutions Limited’s board approved raising funds through a rights issue of equity shares.
The shares will have a face value of ₹1 each and be offered to eligible equity shareholders.
The issue price, size, entitlement ratio, record date, issue period and payment terms have not yet been decided.
The record date will be announced later and is subject to statutory and regulatory approvals.
The stock closed 0.44% higher at ₹13.75 on BSE on September 23, with a market capitalization of ₹725.73 crore.
- Who
- Kellton Tech Solutions Limited and its eligible equity shareholders.
- What
- The company’s board approved fundraising through a rights issue of equity shares with a face value of ₹1 each.
- Where
- The announcement was made through a filing with BSE; the shares were trading on BSE.
- When
- The approval was announced on Wednesday, September 23.
- Why
- The company said the rights issue would raise funds, but it did not specify the funds’ intended use.
Key facts
- Fundraising method
- Rights issue of equity shares
- Face value
- ₹1 per equity share
- Issue details
- Issue size, price, entitlement ratio, period and payment terms are yet to be determined
- Record date
- To be announced, subject to statutory and regulatory approvals
- Share price
- ₹13.75, up 0.44% on September 23
- Market capitalization
- ₹725.73 crore
- Return on equity
- 8.19%
Quotes
Kellton Tech Solutions Limited
The company issuing the rights issue announcement through its BSE filing
“The issue size, issue price, rights entitlement ratio, Record Date, issue period, terms of payment and other terms of the Rights Issue shall be determined in due course and shall be intimated to the Stock Exchanges in accordance with applicable laws and regulations.”
livemint.com
Sources
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