Bonanza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-offer Advertisement and Corrigendum to the Detailed Public Statement, in accordance with under Regulation ....
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A group of 9 acquirers led by Mr. Pratap Deshmukh, along with family members and associates, has launched an open offer to buy up to 21,86,333 equity shares of Covidh Technologies Limited, representing 26.00% of the company's emerging equity and voting share capital. The offer price is set at ₹10.00 per share with a face value of ₹10.00. The pre-offer advertisement and corrigendum to the detailed public statement were published in Financial Express, Jansatta, Mumbai Lakshadeep, and Sakshyam newspapers. The filing was made by Bonanza Portfolio Ltd, acting as the Manager to the Offer, in compliance with Regulation 18(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
Public shareholders can tender their shares at ₹10.00 per share during the open offer window. The acquisition of a 26% stake by a group of 9 acquirers signals a potential change in control or significant change in shareholding pattern of Covidh Technologies, which existing investors should evaluate against prevailing market price before deciding to tender.