Bonanza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Shareholders of Covidh Technologies Ltd ("Target Company").
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bonanza Portfolio Ltd has submitted the Letter of Offer to BSE for an Open Offer to the public shareholders of Covidh Technologies Ltd, triggered under SEBI Takeover Regulations. A group of 9 acquirers (Deshmukh, Garad, Yadav, Kadam, Lonkar families/individuals) is offering to buy up to 21,86,333 equity shares, representing 26% of the emerging share capital, at Rs. 10 per share — totaling about Rs. 2.19 crore if fully accepted. The trigger is a change in control stemming from the existing promoter Mr. Ganapa Narsi Reddy renouncing his rights in a Rs. 8.09 crore Rights Issue in favor of the acquirers, giving them 58.63% of the post-issue capital. The Rights Issue was allotted on November 11, 2025, and BSE gave in-principle approval on October 14, 2025. The Open Offer window runs from December 23, 2025 to January 6, 2026.
This is a change-of-control Open Offer — public shareholders can tender shares at Rs. 10 each in cash. It signals a management/promoter change at Covidh Technologies, and the share price may respond to demand around the tendering period.