Kellton Tech Solutions has approved a rights issue of up to Rs 160 crore, but is yet to announce the price, entitlement ratio or record date.
Kellton Tech Solutions has won board approval to raise as much as Rs 160 crore through a rights issue, placing the Indian IT services group in focus as it looks to strengthen its balance sheet by tapping existing shareholders. The company also cleared the draft letter of offer at a board meeting on October 17, but key details, including the issue price, entitlement ratio and record date, have not yet been disclosed.
According to company announcements reported by several market news outlets, the planned issue will be offered to eligible shareholders in proportion to their existing holdings. Kellton Tech has said the new shares will have a face value of Re 1 each, but investors will still need to wait for the final terms before they can judge whether the offer is attractive relative to the market price.
The fundraising comes at a time when the stock is trading near the lower end of its recent range. Goodreturns reported that Kellton Tech shares closed at Rs 12.47 on the National Stock Exchange on Friday, October 16, after rising about 3% during the session. The same report said the stock’s 52-week high is Rs 23.80 and its 52-week low is Rs 11.80, while the company’s market capitalisation is about Rs 660 crore, making the proposed issue material relative to its current size.
Other reports added that the board also approved the appointment of Muskan Manucha as company secretary and compliance officer, effective October 18, 2026. With the commercial terms still to be finalised, attention is now on the company’s next filing for the subscription price, entitlement details and timetable for the offer.
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