Letter of Offer for the Rights Issue of Equity Shares of the Company
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Covance Softsol Limited has filed the final Letter of Offer for a Rights Issue of up to 73,81,844 equity shares of face value Rs. 10 each, priced at Rs. 10 per share (i.e., at par), aggregating up to Rs. 738.18 Lakhs (~Rs. 7.38 crore). Eligible shareholders can subscribe in the ratio of 1 Rights Share for every 2 shares held as on the record date of Friday, August 29, 2025. The issue opens on September 8, 2025 and closes on September 19, 2025, with listing on BSE (Scrip Code: 544361). The company, incorporated in August 2023 and based in Hyderabad, has promoters Srinivasa Rao Madala, Bhaskar Rao Madala, and Durga V L K Madala. This is a relatively small capital raise from existing shareholders at no discount to face value.
Eligible shareholders should decide whether to subscribe by September 19, 2025 to avoid dilution. Since the issue is priced at par, there is no discount incentive, meaning non-participating shareholders will face proportional dilution in their holdings.