Integra Essentia Ltd recommends 1:1 bonus issue

The Board of Directors of Integra Essentia Ltd in their meeting held today i.e. Monday, November 27, 2023 at the Registered Office of the Company, considered and approved the 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.

The Record Date to determine the eligible shareholders shall be decided and announced later.

To accelerate the growth further, the board approved issuance and allotment of securities to raise funds for an aggregate amount of up to Rs. 100 Crore (Rupees One Hundred Crore), by way of a Preferential Allotment, QIP's, ADR, GDR, FCCB or any other method or combination thereof including series of Right Issue(s), each tranche not exceeding Rs. 50 Crore (Rs. Fifty Crores Only), on such terms (to be decided by the Board or a duly constituted committee of the Board at a later date) as are in accordance with applicable law, including Companies Act, 2013 and the rules made thereunder and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable regulations, guidelines etc. as amended up to date.

The board also approved increase in the Authorised Share Capital of the Company to Rs. 125.00 Crore [124,95,00,000 (One Hundred Twenty-Four Crores and Ninety-Five Lakh) Equity Shares of Re. 1/- (Rupee One Only) each and 5,00,000 (Five Lakh) preference shares of Re. 1/- (Rupee One) each)] from the existing Authorised Capital of Rs. 60.00 Crore divided into [59,95,00,000 (Fifty-Nine Crores and Ninety-Five Lakh) Equity Shares of Re. 1/- (Rupee One Only) each and 5,00,000 (Five Lakh) preference shares of Re. 1/- (Rupee One) each)]; and consequent alteration in Clause V of the Memorandum of Association relating to share capital of the Company subject to obtaining the approval of the shareholders of the Company.

Shares of Integra Essentia Limited was last trading in BSE at Rs. 7.02 as compared to the previous close of Rs. 7.31. The total number of shares traded during the day was 3462715 in over 2856 trades.

The stock hit an intraday high of Rs. 7.48 and intraday low of 6.96. The net turnover during the day was Rs. 24961359.00.

Source : Equity Bulls

Keywords

IntegraEssentia INE418N01035 Infrastructure BonusIssue 1For1