LIC – Integra Essentia Ltd Announces Record Date for Bonus Shares Issuance in 2024

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Integra Essentia Ltd, supported by LIC, announces a bonus shares record date, fixed for January 11, 2024. Shareholders to receive a 1:1 bonus issue, enhancing market interest.

New Delhi, January 01, 2024 – In a recent development, the board of directors of Integra Essentia Ltd, a small-cap company listed on Dalal Street and backed by LIC, has fixed January 11, 2024, as the record date for the issuance of bonus shares. The company, known for being one of the LIC-backed penny stocks, has already declared a 1:1 bonus issue, providing shareholders with one additional equity share of Rs. 1/- each for every existing equity share held.

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The decision for the bonus issue was recommended by the company’s Board of Directors during their meeting on November 27, 2023. The shareholders subsequently approved the proposal through a postal ballot on December 29, 2023. In compliance with SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015, the company officially communicated the record date to the Indian stock market exchanges.

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The statement released by Integra Essentia to the stock exchanges reads, “This is to inform that in terms of Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015, the Company has fixed Thursday, January 11, 2024, as the Record Date for the following purpose: Bonus Issue of Equity Shares, 1:1 Bonus Issue of 1 (One) equity share of Rs. 1/- (Rupees One) each for every 1 (One) existing equity shares of Rs. 1/- (Rupees One) each.”

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With LIC’s significant shareholding in Integra Essentia, holding 1.06% of the total paid-up capital as of the July to September 2023 quarter, the bonus shares issuance adds an interesting dimension to the stock’s attractiveness for investors. The company’s move aligns with its commitment to enhancing shareholder value, subject to necessary approvals.

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Investors and market participants are keenly watching the developments, as the bonus shares issuance could potentially impact the dynamics of Integra Essentia’s stock in the coming weeks. As of now, the company continues to navigate the ever-changing landscape of the Indian stock market with its strategic decisions and shareholder-focused initiatives.

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