** Coventry Group CYG.AX falls as much as 3.6% to A$0.68, lowest since September 2

** Industrial products distributor raises up to ~A$20 mln ($13.3 mln) via 2-for-7 non-renounceable pro-rata entitlement offer

** Issue price of A$0.60 represents ~15% discount to last close

** Proceeds to be used for debt reduction, as working capital

** YTD, CYG falls 44.7%

($1 = A$1.5038)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))