Shares of this IT company in focus after update on fund raising – Check details here

First, the company was granted permission to raise funds by issuing convertible bonds worth up to USD 50 million through a private placement in foreign currency.

Shares of Kellton Tech Solutions Ltd, a small-cap IT company, were on investors’ radar today. At the time of writing, the stock was trading at Rs 23.76, down 0.50 per cent or Rs 0.12 on the BSE, while on the NSE, it was trading at Rs 23.77, down 0.29 per cent or Rs 0.07.

In its latest exchange filing today, the company stated that several important decisions were taken at its 31st Annual General Meeting (AGM) held on September 30.

First, the company was granted permission to raise funds by issuing convertible bonds worth up to US$50 million through a private placement in foreign currency.

Furthermore, the company was granted approval to raise funds up to Rs 250 crore through equity shares or other eligible securities.

The company also approved a proposal to increase its authorised share capital from Rs 60 crore to Rs 100 crore, which will increase the maximum number of shares it can issue.

Also, the company’s borrowing limit was increased from Rs 500 crore to Rs 750 crore.

The company is a global leader in AI and digital transformation. Headquartered in Hyderabad, it has over 1,800 employees across offices and delivery centers in the Americas, Europe, and Asia-Pacific.

The company works with clients across industries including banking, manufacturing, hotels, retail, healthcare, energy, and the government sector.

The company has deep understanding of AI (Agentic AI), modernization of legacy systems, cloud technology, data and analytics, IoT and automation.

Meanwhile, shares have opened higher in Europe but retreated in Asia after US stocks sank to their first loss in eight days.

The price of gold, which topped $4,000 per ounce for the first time on Tuesday, continued to rise, trading up nearly $58 at $4,062.10.

Investors have traditionally seen gold as a hedge against high inflation. Its price has soared more than 50% this year because of governments’ huge debt loads, political uncertainties and anticipation that the Fed will cut interest rates.