The Board of Directors discussed and approved the following: 1. Subject to the approval of shareholders and / or other requisite regulatory / statutory approvals, raising funds by way ....
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The Board of Directors of Longspur International Ventures Ltd, at its meeting held on 23rd February 2026, approved a proposal to raise funds aggregating up to Rs. 20 crores. The fund raise will be through the issue of equity shares, warrants, convertible securities, or any other securities, using modes such as Qualified Institutions Placement (QIP), rights issue, preferential allotment, further public offer, or private placement, in one or more tranches, to both promoters and non-promoters. The Board also recommended alteration to the Object Clause of the Memorandum of Association (MOA), subject to shareholder approval. The meeting commenced at 11:00 A.M. and concluded at 3:15 P.M.
This is a fund-raising plan of up to Rs. 20 crores, which could lead to dilution of existing shareholders depending on the mode and pricing finally chosen. The MOA alteration also signals a possible shift in business focus, which shareholders should watch in the upcoming Postal Ballot or EGM.