Board of Directors at their meeting held on 10th March,2026 inter alia considered and approve the issue of 2,03,50,000 equity shares of Rs.10/- each on preferential basis to promoters and ....
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Longspur International Ventures' Board, at its meeting on 10th March 2026, approved a revised preferential issue of up to 2,03,50,000 equity shares at Rs. 10/- per share (face value Rs. 10/-), aggregating up to Rs. 20.35 crore. This is a revision of the earlier approval from 4th March 2026. The shares will be allotted to 33 allottees, including 1 promoter (Manoj Jain - 16,50,000 shares) and 32 non-promoter investors. The promoter Manoj Jain currently holds 22.48% and will hold 13.88% post-issue. The funds are intended for expansion of existing business activities and new business opportunities. The issue is subject to shareholder approval at an upcoming EGM and other regulatory clearances.
The preferential issue is priced at par (Rs. 10/- = face value), which is dilutive for existing shareholders but brings in fresh capital of about Rs. 20.35 crore for business expansion. The promoter's stake will reduce from 22.48% to 13.88%, and post-issue the shareholding will be spread across many new investors, which may increase float and trading liquidity but also dilute existing shareholders significantly.