Please find enclosed Draft Letter of Offer for proposed Rights Issue of the Equity Shares of Covance Softsol Limited.
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Awaiting price reaction for this filing.
Covance Softsol Limited, a Hyderabad-based IT company listed on BSE (scrip code 544361), has filed the Draft Letter of Offer dated August 18, 2025, for a proposed Rights Issue to raise up to Rs. 7.5 Crores from eligible shareholders. The company was incorporated in August 2023, making this a relatively young listed entity. Key details such as the issue price, rights entitlement ratio, number of shares to be issued, and the record date have not yet been finalized and are marked as [●] in the draft document. Promoters Srinivasa Rao Madala and Bhaskar Rao Madala are leading the company. KFin Technologies Limited has been appointed as the Registrar to the Issue. The Draft Letter of Offer has been submitted to BSE for observations and in-principle approval.
Existing shareholders will get an opportunity to subscribe to additional shares in proportion to their current holdings, but they will need to deploy more capital. Until the issue price, ratio, and record date are announced, the actual dilutive impact and attractiveness of the issue cannot be assessed.