Shares of IT sector company Kellton Tech Solutions Ltd gained on Wednesday after the company announced a fundraising plan. The stock opened in the green at Rs 13.71 against the previous close of Rs 13.69 on the BSE. It later gained to touch an intraday high of Rs 13.82, up Rs 0.13, or 0.94 per cent, from the previous close. Last seen, the company’s stock was trading at Rs 13.79, up 0.66 per cent or Rs 0.09 on the NSE, and at Rs 13.77, up 0.58 per cent or Rs 0.08 on the BSE. The market cap of the company stood at Rs 723.09 crore.
Raise funds through rights issue
The company said in a filing today that its board of directors, at its meeting held on September 23, 2026, has approved raising funds through a rights issue. Under this, the company will issue new equity shares of face value Rs 1 each to its eligible existing shareholders.
Only those shareholders who hold the company’s shares on the record date will be eligible to participate in the rights issue. However, the record date has not yet been determined and will be announced later.
The company has not yet finalised key details such as the total amount of the rights issue, issue price of shares, rights entitlement ratio, record date, issue opening and closing date, payment terms etc.
Earlier, the board had approved plans to raise up to Rs 415 crore via Foreign Currency Convertible Bonds (FCCBs) on a private placement basis.
Wins contract by a leading automotive finance company
The company recently disclosed in an exchange filing that it has been awarded a contract by a leading automotive finance company to develop an enterprise loan integration platform. This platform aims to connect the company’s various loan-related systems through a secure, streamlined, and interconnected network.
The platform will connect loan application initiation systems, customer management, credit verification, and loan servicing systems with external verification and financial data providers through a single, controlled layer. This will simplify verifying applicant identity and information, assessing credit, determining loan eligibility, and updating customer records. It will also reduce the complexity of integrating disparate loan-related systems.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
