Longspur allots 52.3 lakh shares at Rs 10 via preferential issue
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On the reaction day the stock moved 3.9 pts more than Nifty Microcap 250 and 3.8 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Longspur International Ventures allotted 52,30,000 equity shares at Rs 10 each (face value) on a preferential basis to 11 investors, raising about Rs 5.23 crore. Post-allotment, paid-up equity capital rose to 1,88,80,000 shares from 1,36,50,000. Key allottees include Manoj Jain (7 lakh shares), Ananya Financial Solutions (8.5 lakh), Vinod Beriwal (6.8 lakh), and several others. This is the first phase of a larger approved preferential issue of up to 2,03,50,000 shares. New shares will rank pari-passu with existing equity. Listing approval application will be filed with BSE.
Equity dilution of about 28% as 52.3 lakh new shares are added. Capital raised at face value with no premium. Monitor for BSE listing approval.