Integra Essentia board approves bonus issue & fundraising plans; details here

The company board of Integra Essentia Ltd has approved the issue of bonus shares and fund-raising via means of preferential issue. The company informed about the same through an exchange filing on Monday. The company board was scheduled to meet for the day. The company board of Integra Essentia has approved the issue of bonus shares in 1:1 ratio. It means that every eligible shareholder of the company will be awarded one equity share with a face value of Re 1 for each share held by them with a face value of Re 1 as on the record date. However, the corporate actions are subject to shareholders and other statutory approvals. Record Date to determine the eligible shareholders shall be decided and will be intimated to exchange separately, said the company in its exchange filing with the bourse on Monday. The company board has also approved to raise Rs 100 crore to accelerate the growth in two tranches. The company will seek members’ approval through the process of postal ballot for the above-said board decisions, said the exchange filing. "The board approved issuance and allotment of securities to raise funds by way of a preferential allotment, QIP’s, ADR, GDR, FCCB or any other method or combination thereof including series of right issues, each tranche not exceeding Rs 50 crore on such terms to be decided by the board or a duly constituted committee of the board at a later date," it added further. Shares of Integra Essentia settled 4 per cent lower on Friday at Rs 7.02 on BSE, commanding a total market capitalization of Rs 320 crore. The scrip has gained 20 per cent in the last one month, while it is up 35 per cent in the last three-months period. Integra Essentia is a company engaged in business of life essentials, including food (agro products), clothing (textiles and garments), infrastructure (materials and services for construction and infrastructure development) and energy (materials, products and services for the renewable energy equipment and projects) and more.  

Also read: Tata Technologies GMP rebounds ahead of allotment status; check latest figures

Also read: Magellanic Cloud shares have surged over 4,000% in 2 years: CFO Sanjay Chauhan explains why

Also read: This NBFC declared bonus shares, stock split. Check details