Integra Essentia witnessed a significant 10% upswing in early trade on November 28, following the affirmative decision by the company’s board to issue bonus shares as a strategic move to raise funds.
In a meeting held on November 27, the board of directors granted approval for a bonus issue of equity shares at a ratio of 1:1. This translates to one equity share of Re 1 each for every existing equity share of Re 1 each held by eligible shareholders as of the record date—a step contingent upon obtaining shareholders’ consent and other requisite statutory approvals.
The company conveyed that the record date, crucial for determining eligible shareholders, is yet to be determined and will be communicated separately to the exchange.
Anticipating a swift implementation, the bonus shares are slated to be credited within two months from the date of the board meeting where the decision to issue bonus shares was officially ratified.
As of 10:10 am, Integra Essentia’s shares continued their upward trajectory, trading 10% higher at ₹7.70, reflecting the market’s positive response to the company’s strategic financial maneuver.