LIC-Backed Penny Stock Below Rs 6 Announces Acquisition Plan After 1:1 Bonus Shares

During Wednesday's closing session, Integra Essentia, a small-cap FMCG firm, had a market worth of Rs 263.71 Cr. The winery and beverages business section of Integra Essentia Limited is happy to offer updates. As an associate concern, M/s Brewtus Beverages Private Limited (BBPL) is currently owned by Integra Essential, which holds about 25.76% of the shareholding during Q2 FY2024. The company has chosen to buy a significant further share in BBPL.

"The company after the additional enhancement in stakes will hold about 51% of BBPL, making it a subsidiary concern. Further to the acquisition of the additional 25.24 % stake holding at BBPL, Integra Essentia in the first phase, has plans to invest and provide for upto INR 100 Million towards growing the business in BBPL," said Integra Essentia in a stock exchange filing.

Apart from the wine products currently produced at the Chateau Indage, Nasik facility, BBPL will enable Integra Essentia to take advantage of the tremendous business potential inherent in the liquor-based beverage industry. The company will also expand its reach by venturing into the medium-to-hard liquor-based product space and adding "Beer" and "Whiskey" to its product portfolio.

After becoming a subsidiary, BBPL has the exponential potential to significantly increase Integra Essentia Limited's gross income from the lifestyle beverages business division. While investigating the various opportunities and proposals to acquire Breweries / Distilleries located in Europe, the company is looking at various options for expanding its presence in the relevant business segment along with the necessities of life via acquisitions, mergers, and other options to accelerate the approach.

Additionally, Integra Essentia Limited has made the decision to step up its branding efforts in the business sector. The company will shortly be hosting a number of Launch/Brand Promotion Events for the New Products/Brands added to its product profile, inviting well-known and established business houses from the network of dealers and distributors involved in the beverage industry from all over the nation.

The board of Integra Essentia Ltd. authorised the 1:1 bonus share issuance on November 27, 2023. Accordingly, each share that an eligible shareholder owns gives him or her one bonus share. The face value of the bonus shares is Re 1. The plan to raise Rs 100 crore through the issue of new shares was also authorised by the corporate board. The company states that the record date for identifying eligible shareholders will be determined and issued to each exchange individually.

On Wednesday, the shares of Integra Essentia ended at Rs 5.77 apiece on BSE. The scrip reached a 52-week-high of Rs 9.35 on (20/12/2022) and a 52-week-low of Rs 5.10 on (28/08/2023). During Q2FY24, the company booked promoters' shareholding of 20.81%, FIIs stake of 1.51%, DIIs stake of 1.08%, and public stake of 76.59%. As per the shareholding pattern of Integra Essentia for the July to September 2023 quarter, insurance giant LIC held 48,59,916 shares or 1.06% stake in the company.