we wish to inform you that the Meeting of the Board of Directors of the Company held on 10th March,2026 at 4.00 P.M. at the registered office of the Company at 9, Botawala Building, 3rd ....
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The Board of Directors of Longspur International Ventures Ltd, held on 10th March 2026, approved a revision in the size of its proposed preferential issue from Rs. 15 Crore to Rs. 20.35 Crore, an increase of about Rs. 5.35 Crore. The issue will comprise up to 2,03,50,000 equity shares of face value Rs. 10 each, allotted at Rs. 10 per share (no premium), to 33 identified allottees including 1 promoter (Mr. Manoj Jain) and 32 non-promoter entities/individuals. The funds will be raised on a preferential basis under SEBI ICDR Regulations, subject to shareholder and other regulatory approvals. An Extraordinary General Meeting (EGM) has been scheduled for 6th April 2026 to seek shareholder approval, and the board has also approved the EGM notice and book closure for the same.
Existing shareholders will face equity dilution since shares are being allotted at face value (Rs. 10) with no premium, which is value-dilutive. The enlarged capital base from the Rs. 20.35 Crore raise could support business growth, but the stock may see short-term pressure due to dilution and the large number of incoming allottees. Shareholders should review the explanatory statement at the EGM for the proposed use of funds before voting.