In continuation of our earlier intimation dated October 03, 2025, and subsequent deferment notice dated October 09, 2025, we wish to inform you that the meeting of the Board of Directors ....
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Covidh Technologies Ltd's Board has approved a Rights Issue of 80,85,550 fully paid-up equity shares at a price of ₹10 per share (face value), aggregating to about ₹8.08 crore assuming full subscription. The entitlement ratio is 25 rights shares for every 1 existing share held, with the Record Date fixed for Friday, October 24, 2025. The issue opens on November 3, 2025 and closes on November 10, 2025. Post-issue, total equity shares will expand from 3,23,422 to 84,08,972, a roughly 26-fold increase in the share count. The Board meeting was originally scheduled for October 3, deferred once on October 9, and finally held on October 16, 2025.
This is a heavily dilutive Rights Issue — the share count expands about 26 times. Eligible shareholders must invest 25 times their current holding value just to maintain their stake, otherwise they face steep dilution. Pricing at face value (₹10) with such an aggressive ratio signals weak fundraising capacity and likely a steep discount to any prevailing market price, which is negative for existing minority shareholders who do not participate fully.