650% rally in five years! Multibagger small-cap stock Kellton Tech Solutions declares closure of FCCB issue

Stock Market Today: Multibagger small-cap stock Kellton Tech Solutions, which has risen 650% in the last five years, remains in the news today, May 21, after announcing the closure of its foreign currency convertible bond (FCCB) issue.

Kellton Tech Solutions FCCB details

Kellton Tech Solutions on Tuesday, May 20, 2025, informed the stock exchanges — National Stock Exchange of India and BSE — about its FCCB issue closure.

The multibagger small-cap stock said, “In continuation to its earlier communication dated May 16, 2025, regarding the opening of the Foreign Currency Convertible Bond issue or FCCB Issue for subscription, it wishes to inform you that the said FCCB Issue has been successfully closed as of the end of business hours on Tuesday May 20, 2025.”

The company has therefore successfully raised $10 million from the offering, as per the release on the exchanges.

The Board of Kellton Tech Solutions at its meeting held on May 14, with consent of the members of the company obtained by means of passing the requisite resolution earlier and after achieving an in-principle approval from the stock exchanges, had proposed the issue of FCCBs for an aggregate amount not exceeding ₹100 crore.

The Board had approved the issue of $10,000,000 aggregate value of FCCBs at 100% of its principal value. The initial conversion price of the FCCBs was set to be ₹106. 

The company is allotting 10,000 6.5% senior unsecured foreign currency convertible bonds due 2035 of face value of $1000 each, convertible into fully paid-up equity shares of face value of ₹5 each of the company at a price of ₹106.

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