Longspur International Ventures Limited has received in-principle approval from BSE Limited for a preferential issue of equity shares. The approval was granted vide letter dated June 12, 2026 with reference number LOD/PREF/MV/FIP/373/2026-27.

Approval Details

The approval is granted under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements), 2015 for the issue of 2,03,50,000 (2.035 crore) equity shares of face value ₹10 each. The issue price is set at ₹10 per share. The shares are to be issued to both promoters and non-promoters on a preferential basis.

Regulatory Compliance Requirements

The company must ensure strict compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1856
  • SEBI Act, 1992
  • Depositories Act, 1996
  • Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations)
  • Listing Agreement with BSE

Internal Control Requirements

The BSE has advised the company to strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip before allotment. Specific requirements include:

  • Obtaining undertakings from allottees confirming they will not engage in intra-day trading or any sale in the company's scrip until the allotment date
  • The responsibility for verification and compliance rests solely with the issuer company, particularly regarding Regulation 167(6) of SEBI ICDR regulations, 2018
  • Any non-compliances observed post-undertaking may impact the listing of such shares

Post-Allotment Requirements

Upon allotment of securities, the company must:

  • Make a listing application without delay with applicable fees under Regulation 14 of LODR Regulations
  • Submit the application within twenty days from the date of allotment as per Schedule XIX - Para (2) of ICDR Regulations and SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Non-compliance with the 20-day requirement will attract fines as specified in the SEBI circular

Additional Notes

The approval is conditional and does not guarantee final listing approval. BSE reserves the right to withdraw this in-principle approval if submitted information is found incomplete, incorrect, misleading, false, or if it contravenes any rules, regulations, or guidelines.

For convertible securities, depositories will automatically release excess lock-in period of Pre-Preferential Holding of allottees in compliance with SEBI(ICDR) Regulations, 2018 without requiring any NOC from the Exchange.