Allotment of Equity Shares on Rights Basis
Price
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Covance Softsol Limited has allotted 73,81,844 fully paid-up rights equity shares of face value Rs. 10 each at an issue price of Rs. 10 per share, meaning shares were issued at par (no premium or discount). The allotment ratio was 1 rights share for every 2 equity shares held on the record date of August 29, 2025. As a result, the company's paid-up equity share capital increased from Rs. 14.76 crore (1.47 crore shares) to Rs. 22.14 crore (2.21 crore shares), a rise of about Rs. 7.38 crore. The allotment was finalized per the letter of offer dated August 26, 2025 and approved by BSE as the designated stock exchange.
Shareholders who held shares on the record date received 1 new share for every 2 they owned, slightly diluting existing holdings but increasing the company's equity base. Since shares were issued at par with no premium, existing shareholders get no immediate value uplift, but the company raises fresh capital for its operations.