Letter of Offer dated October 16, 2025 for Rights Issue of equity shares.
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Covidh Technologies Ltd has filed its Letter of Offer for a Rights Issue of up to 80,85,550 fully paid-up equity shares of face value ₹10 each, aggregating up to ₹8.09 crore. The issue is priced at par (₹10 per share) in the ratio of 25 Rights Equity Shares for every 1 equity share held on the Record Date, which is Friday, October 24, 2025. The issue opens on November 3, 2025 and closes on November 10, 2025, with listing expected around November 13, 2025 on BSE. The ratio of 25:1 is highly dilutive, meaning the share count could expand by up to 26 times if fully subscribed. Existing shareholders will need to decide whether to subscribe, renounce, or let their rights lapse.
This is a massive, highly dilutive rights issue priced at par with no discount — existing shareholders face heavy dilution unless they fully subscribe. Share price typically adjusts downward on the ex-rights date to reflect the theoretical value post-issue.