Kellton Tech Shares Recover After Rights Issue Approval; Check Issue Price, Record Date & All You Need To Know

Kellton Tech Solutions shares recovered from the day's low on Wednesday, September 23, after the IT company announced that its board had approved a plan to raise funds through a rights issue. The announcement brought the company's fundraising plans into focus, although investors are still waiting for important details such as the issue size, price and number of shares that existing shareholders will be entitled to buy.

Kellton Tech Shares Recover After Rights Issue Approval; Check Issue Price, Record Date & More

A rights issue allows a company to offer new shares to its existing shareholders before they are offered to others. The number of shares an investor can apply for is generally linked to their existing holding. For Kellton Tech shareholders, the final terms will therefore be important in deciding how much they may need to invest and how the fundraising could affect their shareholding.

Kellton Tech Rights Issue: What Has The Board Approved?

Kellton Tech Solutions said in an exchange filing that its board has approved raising money through a rights issue of equity shares with a face value of Rs 1 each. The proposed offer will be available to shareholders who are eligible under the final terms of the issue. However, the company has not yet disclosed how much money it plans to raise or how many new shares will be issued.

Kellton Tech is also yet to announce the price at which the new shares will be offered and the proportion in which shareholders will receive the right to apply for additional shares.

The company said the remaining details, including the record date, issue period and payment schedule, will be announced later after the required approvals and formalities are completed.

Kellton Tech Share Price Today

Kellton Tech Solutions shares were trading at Rs 13.75 on the BSE at around 3:20 pm on Wednesday, up 0.44% from the previous close. The stock moved between an intraday high of Rs 13.82 and a low of Rs 13.64 during the session. At the prevailing price, Kellton Tech had a market capitalisation of around Rs 725.73 crore.

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