1:1 Bonus Share & 20:119 Right Issue: Back-to-Back Upper Circuits in this LIC-backed Multibagger Penny Stock at Rs 3.92

The stock is up by 57 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 545 per cent in just 3 years and a whopping 1,000 per cent in 5 years.

Today, shares of Integra Essentia Ltd, a multibagger stock from the FMCG sector, supported by the insurance giant Life Insurance Corporation (LIC) (owns 1.06 per cent); were locked in 5 per cent upper circuit to Rs 3.92 per share from its previous closing of Rs 3.74. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

Integra Essentia Ltd is raising Rs 50 crore through a rights issue by offering 1,52,634,538 new shares at Rs 3.25 each (including a premium of Rs 2.25). Existing shareholders who held at least 20 shares on June 1, 2024 (record date) will be entitled to buy additional shares at a ratio of 20:119 (20 rights shares for every 119 existing shares). The rights issue window is open from June 11 to June 25, 2024 (with potential extension), and if fully subscribed, could increase the company's outstanding shares by over 16.8 per cent, bringing the total from 91,40,66,006 to 1,06,76,90,544. This translates to a potential capital raise of Rs 49.93 crore.

Integra Essentia just secured a significant opportunity that could lead to a long-term partnership. The company received its first-ever order to supply 500 metric tons of rice, valued at approximately Rs 14.25 million, to the prestigious ITC Group's Agri Division. This initial order comes with specific quality requirements and a tight 15-day delivery window. It's particularly noteworthy because ITC Group is a major player in the Indian market, with a diversified business including FMCG, Hotels, and a leading Agri-Business Division. This division is heavily involved in the export and domestic trading of various food products, including rice, wheat, and other grains, making it a significant potential customer for Integra Essentia.

Also Read: Promoters bought 1,18,13,340 shares: Heavy buying is witnessed in this multibagger penny stock under Rs 60; Spurt more than 3 times on BSE

About Integra Essentia Ltd

Integra Essentia Limited (IEL) is a diversified company providing essential goods and services for modern life across Food (including Agro products), Clothing (Textiles and Garments), Infrastructure materials and services, and Renewable Energy equipment. They aim to serve society and be a leading player, especially in Food Essentials, by offering these products at a reasonable cost. IEL is also committed to supplying materials and services for India's infrastructure needs. Additionally, they offer a wide range of products to enhance lifestyles, including health and nutrition products, clothing, and bulk materials. To achieve its growth strategy, IEL recently acquired a winery and a majority stake in a beverage company, capitalizing on the growing markets for consumable goods, wine, beer, and whiskey.

According to Quarterly Results (Q4FY24), the net sales increased by 50.4 per cent to Rs 93.31 crore and net profit increased by 733.8 per cent to Rs 5.92 crore compared to Q3FY24. In its annual results, the net sales increased by 50.4 per cent to Rs 277.27 crore and net profit increased by 131.4 per cent to Rs 15.28 crore in FY24 compared to FY23.

The company in its board meeting held on January 13, 2024, considered and approved the allotment of 45,70,33,003 bonus equity shares to the existing shareholders in the ratio of 1:1, the same has been allocated to the shareholders on January 13, 2024. Expenses incurred with the Increase in authorised capital & bonus issue of Rs 90.25 lakh have been capitalised and adjusted from other equity during the year ended 31 March 2024.

The stock is up by 57 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 545 per cent in just 3 years and a whopping 1,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.