Board of Directors at their meeting held on 8th September ,2025 interalia has considered and approved the issue of 1,50,00,000 equity shares of face value of Rs. 10 for cash at the price ....
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The Board of Longspur International Ventures Ltd (formerly Confidence Finance and Trading Ltd) approved a preferential issue of 1,50,00,000 equity shares at Rs. 10 each (face value), raising up to Rs. 15 crore. The shares will be allotted to 21 investors, including 20 non-promoters and one promoter (Manoj Jain, who currently holds 21.88% and will hold 15.31% post-issue). The largest allottee is Kamlesh S Chechani with 20 lakh shares, followed by Vinod Beriwal (15 lakh) and Manoj Jain as promoter (14 lakh). The issue is priced at par (no premium) and is being done under SEBI ICDR Chapter V preferential allotment rules.
Existing shareholders will face equity dilution as 1.5 crore new shares are issued at face value with no premium, meaning the company raises Rs. 15 crore but at no benefit to current investors' per-share value. The participation of the existing promoter signals some insider confidence, but the large number of new non-promoter holders may shift control dynamics.