Shares of technology firm Kellton are likely to be in focus after the company informed exchanges that its board of directors has approved raising funds through a rights issue. The smallcap company said that the decision was finalised during the board meeting held on October 17, 2026. The company said the board approved the issue of equity shares of the company with a face value of Re 1 for an amount not exceeding Rs 160 crore. The IT firm said that the terms and conditions of the rights issue have not been finalised and will be communicated later.
The board has also approved the draft letter of offer. “Further, the Board of Directors will, inter-alia, decide the terms and conditions of the Rights Issue, including but not limited to the determination of the issue price, rights entitlement ratio, record date, timing of the Rights Issue and terms of payment and other related matters,” the exchange filing reads.
Share price of IT stock
The stock started the trading session in green following this update. However, it witnessed profit booking amid weakness in benchmark indices and fell. The counter began the trading session at Rs 12.94 against the previous close of Rs 12.45 on the BSE. However, it later fell to hit the intraday low of Rs 12.17, representing a fall of Rs 0.28 or 2.24 per cent. Last seen, the stock was trading at Rs 12.20, with a drop of Rs 0.25 or 2.01 per cent . The market cap of the company stood at Rs 643.92 crore.
Share price history
The stock opened gap up and outperformed the sector by 6.64 per cent today. Technically, it traded higher than the 5-day, 20-day and 50-day moving averages but lower than the 100-day and 200-day moving averages.
According to BSE Analytics, the stock has gained 20.08 per cent in five years but has corrected 26.37 per cent in three years and 60 per cent in two years. On a year-to-date (YTD) basis, it has corrected 34.13 per cent, compared with a 13.29 per cent fall in the benchmark index.
Meanwhile, the company said it acquired the entire stake in IT services firm Kumori Technologies in an all-cash deal for Rs 52.5 crore.