Bonus share 2023: Integra Essentia approves 1:1 bonus share and fundraising plans
“The record date to determine eligible shareholders will be determined and it will be indicated that these will be exchanged separately,” the company said.
Bonus share 2023: Recycling player Integra Essentia, specialized in life necessities such as agricultural products, has approved the issuance of bonus shares to its investors. The company has informed the BSE that its board of directors has approved the bonus issue in the ratio of 1:1. This means that eligible shareholders will be awarded one bonus share for each share they hold.
“Issue of bonus issue of shares in the ratio 1:1 i.e. 01 (one) equity share of Re 1 each for every 1 (one) equity share of Re 1 each held by the eligible shareholders of the company on the record date” , reads the exchange application.
However, this is subject to shareholder and other regulatory approvals. The company will establish the exchange and inform about the registration date in the coming days.
“The record date to determine eligible shareholders will be determined and it will be indicated that these will be exchanged separately,” the company said.
Also, Integra has approved Essentia to raise Rs 100 crore through preferential allocation, QIPs, ADR, GDR, FCCB or other methods.
Meanwhile, Integra Essentia has reported a net profit of Rs 7.52 crore for the September quarter, helped by higher revenues. The company had posted a net profit of Rs 2.15 crore in the year-ago period, the company said in a statement on Thursday.
The company’s total revenue rose to Rs 74.75 crore from Rs 59.40 crore in the previous year’s quarter. Expenses stood at Rs 64.96 crore, against Rs 57.30 crore a year ago. Integra Essentia is active in the steel and renewable energy sectors.
The company’s revenue from operations grew 17.11 percent from Rs 57.12 crore in Q2FY23 to Rs 66,89.71 Lakhs in Q2FY24. Similarly, EBITDA recorded a sharp jump of 420.98 percent from Rs 211.11 Lakhs in Q2FY23 to Rs 1099.84 Lakhs in Q2FY24.