Allotment of Equity Shares on Rights basis
Price
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Covance Softsol Limited has allotted 73,81,844 fully paid-up equity shares under its rights issue at Rs. 10 per share (face value Rs. 10, i.e., at par). The issue was offered in the ratio of 1 rights share for every 2 shares held, with the record date set as August 29, 2025. As a result, the company's paid-up equity share capital has increased from Rs. 14.76 crore (1.47 crore shares) to Rs. 22.15 crore (2.21 crore shares), a rise of about 50%. The allotment was approved by the Rights Issue Committee on September 22, 2025, based on the Letter of Offer dated August 26, 2025.
Shareholders who did not subscribe to the rights issue will see their ownership diluted by roughly one-third (from ~67.7% to ~66.7% for non-subscribers, relative to the new total). The capital raise is modest and priced at par, meaning no immediate discount-driven selling pressure, but the dilution is worth noting for existing investors.