We are please to submit a copy of Notice of EGM of the company to be held on Monday 6th April,2026 at the registered office of the company .
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Longspur International Ventures Ltd has called an EGM on April 6, 2026 to seek shareholder approval for three key proposals. First, the company wants to change its main object clause to enter the solar energy business, including manufacturing, supply, installation, and maintenance of off-grid DC solar photovoltaic water pumping systems and renewable energy projects. Second, the company proposes to issue 2,03,50,000 equity shares at Rs. 10 each (aggregating Rs. 20.35 crores) on a preferential basis to 33 allottees, including 1 promoter (Manoj Jain) and 32 non-promoters, for working capital, business expansion in solar energy, and general corporate purposes. Third, the authorised share capital will be increased from Rs. 21 crores to Rs. 35 crores to accommodate the preferential issue and future growth.
This is a significant event for existing shareholders as the company is pivoting into the solar/renewable energy sector and diluting equity by issuing 2.03 crore new shares (over 60% of current capital). The preferential issue price of Rs. 10 (at face value, no premium) may be dilutive, and post-issue promoter holding will reduce from 22.48% to 13.88%, indicating change in control dynamics. Shareholders should evaluate the new business direction and assess the valuation rationale before voting at the EGM.