LIC-backed penny stock in the FMCG sector, Integra Essentia has hit back-to-back upper circuits for a fourth consecutive session on June 13. The stock is trading below Rs 5 and has opened its rights issue in the ratio of 20:119 which will end on June 25. Also, the stock is focused after winning a massive order of Rs 210 million. The FMCG stock has also delivered a 1:1 bonus issue and a 3:1 stock split recently.
Integra Essentia Share Price:
On June 13, the penny stock was locked at 5% upper circuit to Rs 4.11 per share on BSE with a market cap of Rs 438.82 crore. An upper circuit means that there were several buyers but no sellers in the stock.
Integra share price has been on the gaining spree for the fourth consecutive day, hitting 5% upper circuits. From June 10 to 13, the stock has rallied by 21% on BSE. The stock's 52-week high and low are at Rs 7.69 apiece and Rs 2.50 apiece respectively.
Integra Essentials Backed By LIC:
As per the shareholding pattern, as of March 31, 2024, India's largest life insurer LIC India holds 97,19,832 equity shares of Integra Essentia. In percentage terms, the stake is at 1.06%.
Integra Essentials Big Order Win:
The company announced on June 12 that it has won fresh orders for its Agro and Infrastructure Business Segments. The total aggregated value of these orders is about Rs 210 Million. In the Infra Business Segment, the company has secured significant orders for High-Tensile TOR Steel.
In its regulatory filing, Integra said that these orders will contribute to the consistent growth in the company's footprint in the infrastructure business.
Further, it said that in the agro segment, the company received fresh orders from renowned and regular customers including Sarveshwar Foods Ltd and Sarveshwar Overseas Ltd.
It said, "The repeat orders from the renowned brands continue to underpin the strong order book and the consistent demand and trust in the high-quality agricultural products from Integra."
Integra Essential Rights Issue:
The upbeat trend in the stock can also be attributed to the rights issue that has opened since June 11, 2024. The last date for on-market renunciation of rights entitlement is scheduled for June 20, 2024, while the issue will close on June 25, 2024.
The rights issue involves the issuance of up to 15,36,24,538 Equity Shares having a face value of Re 1 each aggregating to Rs 49.92 crore. The issue price is Rs 3.25/- per Rights Equity Share (including a premium of Rs. 2.25/- per Rights Equity Share).
The rights entitlement ratio is at 20: 119 --- meaning --- 20 (Twenty) Equity Shares for every 119 (One hundred Nineteen) Fully Paid Equity Shares held by the Existing Shareholders on the Record Date. The record date to determine the equity shareholders entitled to receive the rights entitlement in the Rights Issue was June 1, 2024.
Integra Essentia Corporate Actions:
While the FMCG player has not delivered any dividends, it has carried multiple rights issues and stock splits. It also has a record of paying bonus shares.
The latest corporate action before the rights issue was of bonus shares in the ratio of 1:1 that was ex-date on January 11, 2024. Further, Integra has turned ex-split on February 3, 2022, for a ratio of 3:1.
About Integra Essentia:
IEL is a company engaged in the business of Life Essentials i.e. Food (Agro Products), Clothing (Textiles and Garments), Infrastructure (Materials and Services for Construction and Infrastructure Development) and Energy (Materials, Products and Services for Renewable Energy Equipment and Projects) and many more Products and Services required to sustain modern life.
Integra Essentia Limited is a business with a substantial role to play both in creating and providing effective basic life materials and services and on the other hand to enhance aspiring living standards, opulent lifestyle through its video offering of Agro, Health & Nutrition, Clothing, Energy & Infrastructure, Bulk Materials and other lifestyle-related products.
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