Description

Open offer by nine acquirers led by Mr. Pratap Deshmukh and family to acquire up to 26% equity stake in Covidh Technologies Limited at ₹10 per share under SEBI SAST Regulations.

Summary

Nine acquirers including Mr. Pratap Deshmukh, Mr. Laukik Deshmukh, Ms. Sharmila Deshmukh, Ms. Shubhangi Garad, Mr. Sumeet Garad, Ms. Ritu Garad, Mr. Dhairyasheel Yadav, Mr. Nandakumar Kadam, and Ms. Archana Lonkar have launched an open offer to acquire up to 21,86,333 equity shares (26% of emerging equity and voting capital) of Covidh Technologies Limited at ₹10.00 per share. This offer is made pursuant to SEBI (SAST) Regulations, 2011 following substantial acquisition of shares accompanied by change in control and management of the company.

Key Points

  • Total Offer Size: 21,86,333 fully paid-up equity shares (26% of emerging equity)
  • Face Value: ₹10 per share
  • Offer Price: ₹10.00 per equity share (payable in cash)
  • Number of Acquirers: 9 individuals (appears to be family groups)
  • Target Company: Covidh Technologies Limited (CIN: L72200TG1993PLC015306)
  • Regulatory Basis: SEBI (SAST) Regulations 3(1) and 4 - substantial acquisition with control change
  • Offer Type: Mandatory open offer to public shareholders

Acquirer Details

Primary Acquirers:

  1. Mr. Pratap Deshmukh - Pune (Contact: +91 8329012053)
  2. Mr. Laukik Deshmukh - Pune (Contact: +91 9822012762)
  3. Ms. Sharmila Deshmukh - Pune (Contact: +91 9822273030)
  4. Ms. Shubhangi Garad - Kharghar, Raigarh (Contact: +91 9004848602)
  5. Mr. Sumeet Garad - Kharghar, Raigarh (Contact: +91 9769230750)
  6. Ms. Ritu Garad - Kharghar, Raigarh (Contact: +91 9372824810)
  7. Mr. Dhairyasheel Yadav - Sangli (Contact: +91 9967704179)
  8. Mr. Nandakumar Kadam - Kalyan, Thane (Contact: +91 9819009168)
  9. Ms. Archana Lonkar - Kalyan, Thane (Contact: +91 9892203928)

Target Company Information

  • Company Name: Covidh Technologies Limited
  • CIN: L72200TG1993PLC015306
  • Registered Office: B-2, Plot: 797/A, Sai Krishna Building, Road No. 36, Jubilee Hills, Hyderabad, Telangana - 500033
  • Contact: Tel: 040-64643093, Fax: 040-40266738
  • Email: cscovidh@gmail.com, info@covidh.com
  • Website: www.covidhtechnologies.com

Regulatory Changes

This open offer triggers provisions under SEBI (SAST) Regulations, 2011:

  • Regulation 3(1): Substantial acquisition of shares and voting rights
  • Regulation 4: Change in control and management of the target company
  • Mandatory public announcement and offer to public shareholders for 26% stake

Compliance Requirements

  • For Public Shareholders: Letter of Offer sent to all shareholders of Covidh Technologies Limited
  • Action Required: Shareholders may tender their shares through the acceptance-cum-acknowledgement form and transfer deed
  • Consultation Available: Shareholders requiring clarification may consult stockbrokers, investment consultants, Manager, or Registrar to the Offer
  • Recent Sellers: If shares recently sold, forward this Letter of Offer to the Stock Exchange member through whom sale was executed
  • Statutory Approvals: As on date of Letter of Offer, no statutory approvals required to acquire shares

Important Dates

  • Circular Date: December 19, 2025
  • Offer Opening/Closing Dates: To be specified in detailed offer documents

Impact Assessment

Market Impact:

  • Significant corporate action involving change in control and management of Covidh Technologies Limited
  • Mandatory open offer for 26% equity creates exit opportunity for public shareholders at ₹10 per share
  • Nine acquirers acting in concert indicates substantial restructuring of shareholding pattern

Shareholder Impact:

  • Public shareholders receive opportunity to exit at offer price of ₹10 per share
  • Change in control may lead to strategic shifts in company operations and management
  • Shareholders should evaluate offer price against current market price and future prospects

Regulatory Impact:

  • Full compliance with SEBI SAST Regulations for substantial acquisition and takeover
  • Transparent disclosure of acquirer identities, contact details, and offer terms
  • Protection of minority shareholder interests through mandatory public offer mechanism

Impact Justification

High severity takeover offer involving change in control and management of Covidh Technologies Limited, affecting 26% of equity through mandatory open offer under SEBI SAST Regulations.