Small-cap inventory beneath ₹50: Kellton Tech Options share value will stay in concentrate on Monday, September 8, after the corporate introduced elevating of funds by way of FCBs and QIP, improve in authored share capital.
The small-cap inventory was up lower than a per cent to shut at ₹25.50 apiece on Friday.
Wanting on the share value development of final one yr, the inventory has remained risky. The scrip has ascended over 7.55 per cent in six months, nevertheless, descended 13.32 per cent in a single yr.
Kellton Tech Options fundraise plans
In an alternate submitting, the Kellton Tech Options mentioned that board has accepted elevating of funds by issuance of overseas forex convertible bonds (FCCBs) on a Personal Placement Foundation not exceeding $50 million.
“The fund elevating by means of issuance of fairness shares and/or every other eligible securities (convertible/nonconvertible) by way of Overseas Forex Convertible Bonds(FCCBs) in a number of tranches, offered that the combination quantity to be raised by issuance of eligible securities shall not exceed 50 Million USD, topic to such regulatory/statutory approvals,” it mentioned.
The small-cap tech firm additional introduced that the board has additionally accepted elevating of funds by issuance of fairness/different eligible securities by way of Certified Institutional Placement (QIP) not exceeding ₹250 crore.
“The fund elevating by means of issuance of any instrument or safety for money or in any other case together with fairness shares or every other eligible securities inter-alia totally convertible debentures, partly convertible debentures, non-convertible debentures with or with out warrants and/ or any safety convertible into fairness shares (collectively “Securities”), in a number of tranches by means of a preferential allotment, personal placement, together with a number of certified establishments placement (‘QIP’),” the corporate added.
The corporate additionally introduced improve in authorised share capital of the corporate and its consequential modification in Memorandum of Affiliation.
“The Authorised Share Capital of the Firm is Re. 100,00,00,000/- (Rupees One Hundred Crores solely) divided in to 100,00,00,000 (One Hundred Crores) fairness shares of Re. 1/- (Rupees One) every. The corporate can have the best to extend or scale back its capital and to divide the shares within the capital in the intervening time into a number of lessons and to connect thereto respectively any preferential, certified or particular rights privileges or situations as could also be decided by or in accordance with the laws of the corporate in the intervening time to differ modify or abrogate any such rights, privileges or situations in such method as in the intervening time be offered by the Firms Act, 2013 or offered by the corporate in the intervening time,” it added.
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