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The Kellton Tech Solutions shares increased by over 5% during Wednesday’s intraday trading after the IT company notified markets that the issuing of foreign currency convertible bonds (FCCBs) had been authorized by its board of directors. The it stock was up 2.48% from the previous day’s closing price at roughly 2:05 pm, trading at Rs 114.66.

The stock began at Rs 112.50, up from the previous session’s closing of Rs 111.85 on the BSE. The stock rose 5% from the previous close to hit an intraday high of Rs 117.45 later in the trading day. In the meanwhile, the IT stock’s 52-week high was Rs 184.30, and its 52-week low was Rs 85.10. The market value of the business is Rs 1,142.86.

“The Board of Directors of the Company, at its meeting held on May 13, 2025, has, inter alia, considered and approved the Issuance of U.S. $ 10,000,000 6.50% senior unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited (“FCCBs),” the company said in exchnage filling.

Additionally, the Offering Circular was authorized by the board on or around May 13, 2025. Additionally, they designated May 13, 2025, as the “Relevant Date” for the FCCB offer in compliance with the offer of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, as modified. Consequently, the regulatory floor price for the conversion of these FCCBs has been set at Rs 107.00.

Meanwhile, the benchmark Sensex and Nifty market indexes for domestic stocks recovered. The 30-share BSE benchmark index, the Sensex, increased 281.43 points to 81,429.65 in early trade. The NSE Nifty rose 96.65 points to 24,675.

Tata Steel, Eternal, Bharti Airtel, Infosys, Mahindra & Mahindra, Tech Mahindra, Bajaj Finserv, and Reliance Industries were the top Sensex firms.