Integrated Industries Ltd board approves rights issue of Rs. 125 crore

The Board of Directors ("Board") of Integrated Industries Limited ("Company"), in its meeting today, viz. Friday 2nd June, 2023 has considered and approved the fund raising of an amount not exceeding Rs. 125,00,00,000/- (Rupees One Hundred Twenty Five Crore only), in super session of resolution passed on 3rd May 2023 through a Rights issue to the eligible equity shareholders of the Company as on Record date(to be notified subsequently), for the purpose of:

- Induction upto an amount of Rs. 105 crore (Rupees One Hundred Five Crore Only) in subsidiary company- M/s Nurture Well Foods Private Limited by way of investment in equity shares and unsecured loan

- General corporate purpose to the extent of Rs.20 crore (Rupees Twenty Crores Only) in accordance with applicable Laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, SEBI Listing Regulations, along with relevant circulars issued by the Securities and Exchange Board of India, Companies Act, 2013. ("Rights Issue").

The Rights issue Committee formed on 5th May 2023 will be intimated for increasing the amount of right issue for an amount not exceeding Rs. 125,00,00,000/- (Rupees One Hundred Twenty Five Crore only), to proceed with the Rights issue and, decide the terms and conditions of the Rights Issue, including but not limited to deciding on the size of issue, record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries, including appointment of merchant banker and all other related matters.

Shares of INTEGRATED Industries LTD. was last trading in BSE at Rs. 101.85 as compared to the previous close of Rs. 107.16. The total number of shares traded during the day was 10918 in over 40 trades.

The stock hit an intraday high of Rs. 101.85 and intraday low of 101.85. The net turnover during the day was Rs. 1111998.00.

Source : Equity Bulls

Keywords

INTEGRATEDINDUSTRIES INE882B01029 FundRaising RightsIssue