Pursuant to our earlier announcement dated October 03, 2025 regarding the submission of the Draft Letter of Offer, we hereby submit the Revised Draft Letter of Offer, incorporating the ....
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Covidh Technologies has submitted a Revised Draft Letter of Offer to BSE, incorporating modifications suggested by the exchange, for a proposed rights issue. The company plans to issue fully paid-up equity shares with a face value of ₹10 each, aiming to raise up to ₹808.56 lakhs (around ₹8.08 crore) from existing eligible shareholders. The issue price, entitlement ratio, and record date are still to be finalized and will be announced in the final Letter of Offer. The company's existing shares are listed on BSE, and in-principle approval for listing of the rights shares has already been obtained. The revision to the draft document reflects the regulatory review process rather than a material change in the issue size.
The revision moves the rights issue closer to launch but does not change the core terms; existing shareholders should monitor announcements for the final issue price, ratio, and record date, as participation will determine whether their holdings get diluted. Given the relatively small raise size (~₹8 crore), the dilution and price impact on the stock is likely modest but depends on how the issue price compares to the current market price.