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Business News/ Markets / Stock Markets/  Integra Essentia Rights Issue 2024: Price, record date, ratio, other details of LIC-owned share offer
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Integra Essentia Rights Issue 2024: Price, record date, ratio, other details of LIC-owned share offer

Integra Essentia Rights Issue price: The company board has declared the Rights Issue price at ₹3.25 apiece

Integra Essentia Rights Issue record date: The company board has fixed June 1, 2024, as the record date for finalizing the eligible shareholders for issuance of Rights Issue.Premium
Integra Essentia Rights Issue record date: The company board has fixed June 1, 2024, as the record date for finalizing the eligible shareholders for issuance of Rights Issue.

The Integra Essentia Rights Issue 2024, a significant move in the Indian stock market, involves the shares of Integra Essentia Ltd, a penny stock owned by India's Life Insurance Corporation (LIC). The insurance behemoth, holding 97,19,832 shares of Integra Essentia, which is 1.08 percent of the Company's total paid-up capital, is a key player in this event. The LIC-owned penny stock is making headlines as the board of directors of the small-cap Company has declared a Rights Issue to raise funds not exceeding 50 crore. The company board has set the Rights issue price at 3.25 apiece, which is nearly 15 percent below the current Integra Essential share price. The Integra Essentia Rights Issue is scheduled to open on June 11 2024 and will conclude on June 25 2024.

Integra Essentia Rights Issue 2024

Informing the Indian stock market bourses about the fundrise move, Integra Essential said, "This is in furtherance to the Company's meeting of the Board of Directors of the Company ("the Board") held on November 27, 2023, Subsequent shareholders' approval obtained through postal ballot on December 29, 2023 for approving the issue of equity shares of face value of Rs. 1 each ("Equity Shares") of the Company by way of a rights issue to the eligible shareholders of the Company for an amount not exceeding Rs. 50 crore (Rupees Fifty Crore only) (the "Issue"), Draft Letter of Offer dated February 26, 2024, submitted with the Stock Exchanges for In Principle Approvals by applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, read with the relevant circulars issued by the SEBI, in this regard, from time to time (from now on referred to as "SEBI ICDR Regulations" and the issue "Rights Issue")."

Top 5 Integra Essentia Rights Issue details

1] Integra Essentia Rights Issue price: The company board has declared the Rights Issue price at 3.25 apiece.

2] Integra Essentia Rights Issue record date: The company board has fixed June 1, 2024, as the record date for finalizing the eligible shareholders for issuance of Rights Issue.

3] Integra Essentia Rights Issue ratio: The company board has declared a Rights Issue ratio of 20:119, which means 20 (Twenty) Equity Shares for every 119 (One hundred Nineteen) Fully Paid Equity Shares held by the Existing Shareholders on the Record Date.

4] Integra Essentia Rights Issue date: The Integra Essentia Rights Issue will open on June 11, 2024, and end on June 25, 2024.

5] Integra Essentia Rights Issue size: The LIC-owned Company aims to raise funds not exceeding 50 crore.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
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Published: 29 May 2024, 12:50 PM IST
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