Integra Essentia shares jump 5% as company forays into brewery segment
Integra Essentia has decided to acquire an additional substantial stake in Brewtus Beverages Pvt Ltd (BBPL), which is currently an associate concern.
- Dec 13, 2023,
- Updated Dec 13, 2023 2:34 PM IST
Shares of Integra Essentia Ltd rose about 5 per cent during the trading session on Wednesday after the company shares updates from the winery and beverages business segment. The company was informed about these updates through an exchange filing after-market hours on Tuesday. Integra Essentia has decided to acquire an additional substantial stake in Brewtus Beverages Pvt Ltd (BBPL), which is currently an associate concern with Integra Essential holding about 25.76 per cent of the equity acquired during Q2 FY2024, said the filing. "The Company after the additional enhancement in stakes will hold about 51 per cent of BBPL, making it a subsidiary concern," it said Further to the acquisition of the additional 25.24 per cent stake holding at BBPL, Integra Essentia in the first phase, has plans to invest and provide for upto Rs 10 crore towards growing the business in BBPL, the exchange filing added further.
Also read: Integra Essentia shares rise 6% after order win update
Following the announcement, shares of Integra Essentia rose about 5 per cent to Rs 6.35, commanding a total market capitalization of close to Rs 300 crore, but gave up gains as the session progressed. The scrip had previously settled at Rs 6.04 in the previous trading session on Tuesday. BBPL will unlock the business potential embedded in the liquor-based beverage industry for Integra Essentia, widening the company’s footprint into the foray of medium hard liquor-based products adding 'beer' and 'whiskey' to the product portfolio apart from the existing Wine products being produced at Chateau Indage, Nasik facility. Brewtus Beverages Private Limited, established in the year 2020, is an importer of beers, wines and other liquor-based products in the country with its beer branded as 'Zila Bichhoo' and the product portfolio including a wide array of imported liquor based products. BBPL has a distribution business, holding the statutory licences to import and distribute beer, wines and other liquor-based products in the states of Haryana, Uttar Pradesh, Chennai and Uttarakhand. BBPL is all set to launch its products in Delhi, Punjab, Himachal in next few months.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Shares of Integra Essentia Ltd rose about 5 per cent during the trading session on Wednesday after the company shares updates from the winery and beverages business segment. The company was informed about these updates through an exchange filing after-market hours on Tuesday. Integra Essentia has decided to acquire an additional substantial stake in Brewtus Beverages Pvt Ltd (BBPL), which is currently an associate concern with Integra Essential holding about 25.76 per cent of the equity acquired during Q2 FY2024, said the filing. "The Company after the additional enhancement in stakes will hold about 51 per cent of BBPL, making it a subsidiary concern," it said Further to the acquisition of the additional 25.24 per cent stake holding at BBPL, Integra Essentia in the first phase, has plans to invest and provide for upto Rs 10 crore towards growing the business in BBPL, the exchange filing added further.
Also read: Integra Essentia shares rise 6% after order win update
Following the announcement, shares of Integra Essentia rose about 5 per cent to Rs 6.35, commanding a total market capitalization of close to Rs 300 crore, but gave up gains as the session progressed. The scrip had previously settled at Rs 6.04 in the previous trading session on Tuesday. BBPL will unlock the business potential embedded in the liquor-based beverage industry for Integra Essentia, widening the company’s footprint into the foray of medium hard liquor-based products adding 'beer' and 'whiskey' to the product portfolio apart from the existing Wine products being produced at Chateau Indage, Nasik facility. Brewtus Beverages Private Limited, established in the year 2020, is an importer of beers, wines and other liquor-based products in the country with its beer branded as 'Zila Bichhoo' and the product portfolio including a wide array of imported liquor based products. BBPL has a distribution business, holding the statutory licences to import and distribute beer, wines and other liquor-based products in the states of Haryana, Uttar Pradesh, Chennai and Uttarakhand. BBPL is all set to launch its products in Delhi, Punjab, Himachal in next few months.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.