This refers to our earlier disclosure dated October 16, 2025, regarding rights issue of up to 80,85,550 (Eighty Lakhs Eighty-Five Thousand Five Hundred and Fifty) fully paid-up equity shares ....
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Covidh Technologies has completed its rights issue, allotting 80,85,550 fully paid-up equity shares of face value ₹10 each at an issue price of ₹10 (issued at par, no premium). The rights issue opened on November 3, 2025, and closed on November 10, 2025, raising approximately ₹808.56 lakhs in total. The Board approved the allotment at its meeting on November 11, 2025. Post-allotment, the company's paid-up equity share capital has jumped from ₹32.34 lakhs (3,23,422 shares) to ₹8.40 crores (84,08,972 shares), representing a roughly 26-fold increase in share count.
The massive expansion of the share base means significant dilution for existing shareholders, with their stake now forming only about 3.8% of the enlarged capital. However, the company has raised fresh capital without any premium, which may weigh on near-term stock sentiment due to dilution, though the long-term impact depends on how effectively the new funds are deployed.