IT Stock Allots 40.23 Lakh Equity Shares On FCCB Conversion; Expands Equity Base To Rs 51.77 Cr

After opening at Rs 26.24 on the NSE, the share price of small-cap IT company Kellton Tech Solutions Ltd. jumped 6.01% to an intraday high of Rs 27.35 on Wednesday, September 10. Following the announcement by Kellton Tech Solutions Ltd. that 40,23,500 fully paid-up equity shares of face value Rs 1 each will be allocated upon the conversion of Foreign Currency Convertible Bonds (FCCBs), which were approved by the Securities Issuance Committee on September 8, 2025, the stock price saw a surge.

"Consequent to the aforesaid allotment of 40,23,500 equity shares of Rs 1/- each, fully paid-up, pursuant to conversion of Foreign Currency Convertible Bonds (FCCBs), the paid-up equity share capital of the Company has increased from Rs 51,37,22,420/- comprising 51,37,22,420 equity shares of Rs 1/- each, fully paid-up, to Rs 51,77,45,920/- comprising 51,77,45,920 equity shares of Rs 1/- each, fully paid-up," said Kellton Tech Solutions in a stock exchange filing.

2,05,19,850 equity shares with a face value of Rs 1 each have been allocated by Kellton Tech Solutions Ltd. at a price of Rs 21.2 per share, which includes a premium of Rs 20.2. The company's entire issued equity share capital, which includes 51.77 crore shares, is Rs 51,77,45,920 after this allocation. The allotment was made in accordance with the February 20, 2025, in-principle clearance that was obtained from the BSE and NSE.

E-Group ICT Software Zrt, located in Hungary, and Kellton signed a Memorandum of Understanding (MoU) on Wednesday, September 10, 2025, to cooperate together on an AI project under the EU-India Framework Agreement. As part of this MOU, Kellton will establish an "AI Gigafactory" where the company will provide technological support and software development expertise, hence increasing capacity for AI services.

Karanjit Singh, CEO (APAC), Kellton said, "We see this collaboration with E-Group as a pivotal step in shaping a sovereign, human-centric AI future. By bringing together Europe's vision for AI sovereignty and India's deep technology capabilities, we aim to contribute to the AI Roadmap initiative with expertise in AI, Generative AI, Cloud, and Cybersecurity. This partnership reflects our commitment to building secure, ethical, and globally scalable AI ecosystems."

Antal Kuthy, Founder & CEO, E-Group ICT Software Zrt. said, "E-Group is dedicated to building sovereign, human-centric AI ecosystems in line with Europe's strategic priorities. Partnering with Kellton under the EU-India Framework Agreement allows us to align Europe's sovereignty objectives with India's technology expertise. Together, through the AI Roadmap initiative, E-Group and Kellton can advance innovation that is secure, transparent, and globally relevant."

The Memorandum of Understanding between Kellton and E-Group ICT Software Zrt establishes a standard for cross-border collaboration in creating the next generation of AI ecosystems by highlighting the congruence between Europe's goal for sovereign AI and India's prowess in innovation and technology delivery.

With its headquarters located in Hyderabad, India, and more than 1,800 employees spread among delivery centers and offices in the US, Europe, and Asia-Pacific, Kellton Tech Solutions Ltd. is a publicly traded worldwide leader in artificial intelligence and digital transformation.