Integra Essentia shares zoom 8% on bonus issue, board nod to raise funds

Integra Essentia

Shares of Integra Essentia were up 7.83 percent to Rs 7.57 in early trade on November 28 after the company's board approved issuing bonus shares for raising funds.

The board of directors of the company in a meeting on November 27 approved the issuance of a bonus issue of equity shares in the ratio of 1:1 (one equity share of Re 1 each for every one equity shares of Re 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 will be intimated to exchange separately, said the company.

The bonus shares would be credited within two months from the date of the board meeting in which the decision of bonus share issue was taken.

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The board also approved the allotment of securities to raise funds for an aggregate amount of up to Rs 100 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.

The company's board approved the appointment of Pankaj Sardana as chief financial officer (CFO) of the company with immediate effect i.e. November 27. And approved increase in the authorised share capital of the company to Rs 125 crore from the existing authorised capital of Rs 60 crore.