Newspaper publication for basis of allotment
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Covance Softsol Limited published newspaper advertisements regarding the basis of allotment of its Rights Issue, which closed on September 19, 2025. The company offered up to 73,81,844 equity shares at Rs. 10 each, aggregating Rs. 738.18 lakh, in a 1:2 ratio (1 rights share for every 2 held). The issue received an overwhelming response with 869 applications for 1,72,22,910 shares; after rejecting 410 applications for technical reasons, 459 valid applications for 1,66,96,748 shares were received, marking 232.49% oversubscription. All 73,81,844 shares have been allotted to successful applicants. The company has filed for BSE listing approval, and the newly allotted rights shares are expected to start trading on BSE from September 24, 2025 under ISIN INEQR8101016.
The rights issue was heavily oversubscribed at 232.49%, signalling strong shareholder and investor demand, with all valid applicants fully allotted. New shares will begin trading on BSE from September 24, 2025, which will dilute existing shareholders' holdings but also bring fresh capital of up to Rs. 7.38 crore to the company. The trading debut may impact short-term stock price due to increased share float.