Bonanza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Advertisement under Regulation 18(12) in terms of SEBI (Substantial Acquisition of Shares and Takeovers) ....
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On the reaction day the stock moved in line with Nifty Microcap 250 and 2.0 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bonanza Portfolio Ltd, acting as Manager to the Offer, has submitted a Post Open Offer Advertisement to BSE on behalf of a group of nine individual Acquirers led by Mr. Pratap Deshmukh and Mr. Laukik Deshmukh. The Acquirers had earlier entered into a Share Purchase Agreement on October 3, 2025, with the Promoter Sellers to acquire 49,30,000 equity shares (59.19%) of Covidh Technologies at the offer price of Rs. 10 per share. Following this trigger, an Open Offer was made to public shareholders for an additional 21,86,333 shares (26.00%) at Rs. 10 per share. The Post Offer Advertisement was published today in Business Standard, Mumbai Lakshadeep, and Sakshyam as required under Regulation 18(12) of SEBI (SAST) Regulations.
This is a procedural compliance filing confirming completion of the mandatory open offer process under takeover rules. For public shareholders, it signals that the Acquirer group now holds or is in the process of consolidating a majority stake in Covidh Technologies, and the open offer window for public shareholders to tender shares at Rs. 10 has formally concluded.