Revised outcomeof the Board Meeting held on October 16, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Covidh Technologies Ltd approved a Rights Issue of 80,85,550 fully paid-up equity shares of face value ₹10 each, aggregating up to ₹8.09 crores (assuming full subscription). The issue price is fixed at ₹10 per share — the same as face value, meaning shares are being offered at par with no premium. The entitlement ratio is steep at 25 rights shares for every 1 existing share held, which is a significant dilution given the current tiny base of just 3,23,422 outstanding shares. The Record Date is set for Friday, October 24, 2025, with the issue opening on November 3, 2025 and closing on November 10, 2025. Post-issue, the total share count would expand to roughly 84,08,972 equity shares.
Existing shareholders will need to put up substantial additional capital to exercise their full entitlement (effectively 25x their current shareholding at ₹10 each). The massive 25:1 ratio means very heavy dilution if not fully subscribed, and the stock may come under pressure as the record date approaches. However, since shares are being issued at face value, it could be attractive if the current market price is well above ₹10.