After 1:1 Bonus Shares Announcement Integra Essentia Wins Rs 120 Mn Order Deal

Integra Essentia Limited, operating under the business divisions of agro products and infrastructural materials, has secured new orders totalling about INR 120+ million for premium dry fruit (cashew nuts), and HR coils and ERW steel pipes from the Infrastructure Materials Division.

"The Company has been working on long-term associations with several prestigious customers/ consumers eying an overall growth of 15-20% during the current Fiscal Year (on Year-on-Year basis) and is expecting to achieve or even exceed the targeted revenue numbers during F.Y. 2023-24. Integra Essentia Limited is aiming at synergetic integrations / amalgamations to tap into the business potential embedded in the ever-growing demand of life essentials and a wide variety of life essentials and lifestyle products, based on modern business approach of sourcing, producing and marketing of wide range of bulk and speciality materials and services," said the company in a stock exchange filing.

The Board of Directors of the company in their meeting held on Monday, November 27, 2023 declared "Issuance of Bonus issue of equity shares in the ratio of 1:1 i.e. 01 (One) equity share of Rs. 1/- each for every 1 (One) equity shares of Rs. 1/- each held by the eligible shareholders of the Company as on record date, 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 a stock exchange filing.

Additionally, the board approved the issuance of securities to raise up to Rs 100 crore in total by preferential allotments, QIPs, ADRs, GDRs, FCCBs, or any combination of these methods, including a series of right issues, with each tranche of up to Rs 50 crore.

The appointment of Pankaj Sardana as the company's chief financial officer (CFO) with immediate effect, effective November 27, was allowed by the board of directors. and authorised raising the company's authorised share capital from its current level of Rs 60 crore to Rs 125 crore.

On Thursday, the shares of Integra Essentia were trading at Rs 7.05 apiece level.