Description

Open offer by nine acquirers to acquire up to 21,86,333 equity shares (26% of emerging equity) of Covidh Technologies Limited at ₹10 per share under SEBI takeover regulations.

Summary

Nine acquirers - 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 fully paid-up equity shares (26% of emerging equity and voting share capital) of Covidh Technologies Limited. The offer is being made at ₹10 per equity share of face value ₹10, payable in cash, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Points

  • Target Company: Covidh Technologies Limited (CIN: L72200TG1993PLC015306)
  • Offer Size: Up to 21,86,333 equity shares representing 26% of emerging equity and voting capital
  • Offer Price: ₹10.00 per equity share (face value ₹10)
  • Payment Mode: Cash
  • Number of Acquirers: 9 individuals acting in concert
  • Regulatory Framework: SEBI (SAST) Regulations, 2011 - Regulations 3(1) and 4
  • Nature of Offer: Substantial acquisition with change in control and management
  • No Statutory Approvals Required: As stated in the letter of offer

Acquirer Details

  1. Acquirer 1: Mr. Pratap Deshmukh - Contact: +91 8329012053, Email: prataprao_deshmukh@yahoo.co.in
  2. Acquirer 2: Mr. Laukik Deshmukh - Contact: +91 9822012762, Email: laukikdeshmukh@gmail.com
  3. Acquirer 3: Ms. Sharmila Deshmukh - Contact: +91 9822273030, Email: pdd.rachana@gmail.com
  4. Acquirer 4: Ms. Shubhangi Garad - Contact: +91 9004848602, Email: shubhangigarad931@gmail.com
  5. Acquirer 5: Mr. Sumeet Garad - Contact: +91 9769230750, Email: garadsumeet9@gmail.com
  6. Acquirer 6: Ms. Ritu Garad - Contact: +91 9372824810, Email: ritugarad@gmail.com
  7. Acquirer 7: Mr. Dhairyasheel Yadav - Contact: +91 9967704179, Email: dhairyasheel84@gmail.com
  8. Acquirer 8: Mr. Nandakumar Kadam - Contact: +91 9819009168, Email: nandkumar.kadam27@gmail.com
  9. Acquirer 9: Ms. Archana Lonkar - Contact: +91 9892203928, Email: archanaklonkar@gmail.com

Target Company Information

Regulatory Changes

This open offer triggers compliance with SEBI (SAST) Regulations, 2011, specifically:

  • Regulation 3(1): Substantial acquisition of shares and voting rights
  • Regulation 4: Change in control provisions
  • Mandatory open offer requirement of 26% to public shareholders following substantial acquisition

Compliance Requirements

  • For Public Shareholders: Should review the Letter of Offer and Form of Acceptance-cum-Acknowledgement carefully
  • For Recent Sellers: Must hand over the Letter of Offer and accompanying forms to the stock exchange member through whom the sale was executed
  • Consultation Recommended: Shareholders may consult stockbrokers, investment consultants, or the Manager/Registrar to the Offer for clarifications
  • The acquirers must comply with all disclosure and procedural requirements under SEBI (SAST) Regulations

Important Dates

  • Letter of Offer Date: December 19, 2025
  • Acquisition Window Opening: As per the circular title, the acquisition window is now opening
  • Specific tender period dates to be detailed in the complete offer document

Impact Assessment

Corporate Impact: This represents a significant change in control and management of Covidh Technologies Limited. The acquisition by nine related acquirers indicates a coordinated takeover effort, likely representing a family group or close associates taking control of the company.

Shareholder Impact: Public shareholders have the opportunity to exit their investment at ₹10 per share. Given the offer price equals the face value, shareholders should evaluate current market price and company fundamentals before deciding to tender shares.

Market Impact: The change in control may result in strategic shifts in the company’s operations and business direction. The relatively small offer size (26%) and low offer price suggest this may be a closely-held company with limited public float.

Regulatory Significance: This transaction demonstrates compliance with mandatory takeover provisions requiring acquirers to make an open offer to public shareholders when acquiring substantial stake with control change.

Impact Justification

Major corporate action involving change in control and management of Covidh Technologies Limited with mandatory open offer to public shareholders for 26% stake acquisition