Penny Stock: LIC-backed Integra Essentia allots 15 crore rights equity shares

penny stock: lic-backed integra essentia allots 15 crore rights equity shares

Penny Stock: State-run Life Insurance Corporation of India-backed FMCG company Integra Essentia has finalised the allotment of rights equity shares. On Tuesday, the penny stock under Rs 5 traded under pressure around 11 AM, quoting at Rs 4.01 apiece. Nearly 18 lakh shares of the company changed hands around the same time.

Integra Essentia Rights Issue

The company has informed through an exchange filing that its board considered and approved the allotment of 15,36,24,538 Fully Paid-up Rights Equity shares of face value of Re 1 each at a price of Rs 3.25 per Rights Equity share (including premium of Rs 2.25 per share). Post allotment, the paid up capital of the company stand increased to Rs 106,76,90,544.

The company had set June 1 as the record date for determining the eligibility of shareholders' participation in the rights issue. The issue opened for subscription on June 11 and concluded on June 25.

What Is Rights Issue

A rights share issue is a corporate event wherein a company offers rights to its existing shareholders to purchase additional shares directly at a discounted price, rather than buying them through the secondary market. The number of additional shares that a shareholder can purchase depends on their existing holding.

Integra Essentia is backed by LIC. According to data rooted from trendlyne, LIC has more than 1 per cent stake in the company.

Integra Essentia Share Price History

According to BSE analytics on July 2, Integra Essentia shares have delivered a positive return of 34 per cent in the last one year. It has sprinted 186 per cent in the last two years. The FMCG stock has made its investors richer by nearly 600 per cent in the last three years and 1000 per cent in five years.

Earlier in January this year, the company had issued bonus shares in the ratio of 1:1 (one for one).

Integra Essentia is a microcap company with a market cap of Rs 426.01 crore, as per BSE website. The firm is engaged in business of life essentials products like food, clothing, infrastructure, energy and many more.