Plans to raise money for Kellton Tech Solutions

Kellton Tech Solutions stated in an exchange filing that the board has authorized the issuing of foreign currency convertible bonds (FCCBs) on a private placement basis, with a maximum value of $50 million. "The issuance of equity shares and/or other eligible securities (convertible or nonconvertible) through Foreign Currency Convertible Bonds (FCCBs) in one or more tranches, subject to such regulatory/statutory approvals," the statement stated, "provided that the aggregate amount to be raised by issuance of eligible securities shall not exceed 50 Million USD." The small-cap IT business also revealed that the board has authorized a maximum of ₹250 crore in funding to be raised through the Qualified Institutional Placement (QIP) of stock and other eligible securities.