 "Kellton Tech Solutions soars on acquisition plan of US based IT firm")
Kellton Tech Solutions has soared 15% to Rs 76.50 on the BSE after the company said it is in the final stage of acquiring a US-based IT Solutions Company with revenue of about $40 million (approx. Rs 250 crore).
The company anticipates completing the acquisition by the month end, pending regulatory approvals, and financial closure, Kellton Tech Solutions said in a statement.
Meanwhile, the board of directors of the company is scheduled to meet on May 27, 2015, to consider the proposal for issue of 2.5 million warrants at Rs 90 to the promoters and other investors.
The stock touched a high of Rs 78.75 so far and has seen more than a five-fold jump in trading volumes. Till 1354 hours, around 752,000 shares changed hands as against an average 145,000 shares that were traded daily in the past two weeks on the BSE.
The company anticipates completing the acquisition by the month end, pending regulatory approvals, and financial closure, Kellton Tech Solutions said in a statement.
Meanwhile, the board of directors of the company is scheduled to meet on May 27, 2015, to consider the proposal for issue of 2.5 million warrants at Rs 90 to the promoters and other investors.
The stock touched a high of Rs 78.75 so far and has seen more than a five-fold jump in trading volumes. Till 1354 hours, around 752,000 shares changed hands as against an average 145,000 shares that were traded daily in the past two weeks on the BSE.