Penny Stock Below Rs 10 Sets Record Date For 1:1 Bonus Shares: Do You Own?

Integra Essentia Ltd a penny stock below Rs 10 has confirmed record date for bonus shares. The company, which operates in the apparel and textile sector and trades in linen material, furnishing textiles, and apparel, has announced a 1:1 bonus share programme for which the record date has been set as Thursday, January 11, 2024.
The company has declared a bonus issue of 1 equity share of Rs. 1/- each for every 1 existing equity share of Rs. 1/- each.

"The abovementioned Bonus Issue was recommended by the Board of Directors of the Company at its meeting held on Monday, November 27, 2023 and subsequently approval of the members have already been obtained through postal ballot on Friday, December 29, 2023," said Integra Essentia in a stock exchange filing.

"Pursuant to SEBI (ICDR) (Second Amendment) Regulations, 2023 effective from 23.05.2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible members of the Company holding equity shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of bonus equity shares in their respective beneficiary accounts.

In case, shares of the Company are held in physical form as on the Record Date, the bonus equity shares so entitled, shall be transferred to the Suspense Account opened by the Company in this regard," informed Integra Essentia to the stock exchanges as a note for physical shareholders.

According to the filing, Integra Essential recently made the decision to pick up a sizable additional stake in Brewtus Beverages Pvt Ltd (BBPL), which is currently an associate company. Integra Essential currently owns around 25.76 per cent of the equity stake that was acquired during Q2 FY2024. Following the subsequent increase in stake, the company will own around 51% stake in BBPL, designating it as a subsidiary company.

The market filing further stated that Integra Essentia has plans to spend and provide for up to Rs 10 crore towards developing the company in BBPL following its acquisition of the additional 25.24 per cent shareholding in BBPL. In addition to the wine products that are manufactured at the Chateau Indage, Nasik facility, BBPL will enable Integra Essentia to tap into the business opportunity across the liquor-based beverage industry. This will expand the company's footprint into the medium hard liquor-based product space and add "beer" and "whisky" to the product portfolio as per a stock exchange filing.

On Friday, the shares of Integra Essentia closed 0.43% down on the BSE at Rs 6.99 apiece. The scrip reached a 52-week-high of Rs 8.80 on (24/01/2023) and a 52-week-low of 5.10 on (28/08/2023).