Integra Essentia Ltd Company Summary

Integra Essentia Ltd Summary

Integra Essentia Limited was earlier incorporated as Five Star Mercantile Limited on August 5, 2007. Thereafter, the Company name was changed from Five Star Mercantile Limited to Integra Garments And Textiles Limited on August 12, 2013 and further renamed to Integra Essentia Limited from Integra Garments and Textiles Limited effective on February 16, 2022 issued by the RoC, NCT Delhi. In 2012-13, following the approval from the Honble High Court of Judicature at Bombay sanctioning the Scheme of Amalgamation and Arrangement between the Morarjee Textiles Limited (MTL), the Company and Morarjee Holdings Private Limited (MHPL), the Integra Division pertaining to Garment Manufacturing Undertaking was transferred by Morarjee Textiles Limited to the Company as a going concern and the said Scheme became effective on July 17, 2012. As a consideration, one fully paid Equity Share of Rs. 3/- each of the Company was issued and allotted for every one fully paid Equity Share of Rs. 10/- each held in MTL.During the year 2020-21, Companys erstwhile promoters, namely, (i) Ms. Urvi Ashok Piramal (ii) Mr. Rajeev Ashok Piramal, (iii) Mr. Nandan Ashok Piramal, (iv) Mr. Harshvardhan Ashok Piramal, (v) Ms. Kalpana Singhania, and (vi) Ashok Piramal Group Textiles Trust of the Company and Morarjee Goculdas Spining and Weaving Co. Ltd entered into a Share Purchase Agreement with Mr. Vishesh Gupta to sell / transfer their entire shareholding i.e. 2,30,90,657 fully paid-up Equity Shares of face value Rs. 3/- each representing 63.56% of the paid-up Equity Share Capital of the Company and 2,50,000 Non-Convertible Redeemable fully paid-up Preference Shares of Re 1/- each representing 100% of the paid-up Preference Share Capital of the Company.Consequently, Mr Vishesh Gupta acquired upto 26% of the total Voting Shares of the Company from public shareholders through Open Offer process, which got completed on March 31, 2021. The Company was acquired by Mr. Vishesh Gupta in Q2 of the financial year, by acquiring a total 2,30,90,815 Equity Shares representing 66.55% of the total Equity, and resultantly the management of the Company underwent a change and Mr. Vishesh Gupta became the Promoter of the Company in 2021.After the change in the management and control of the Company in 2022-23, its vision and object widened. The Company earlier was engaged in the business of manufacturing, trading and dealing in garments and textiles only, now ventured into dealing, trading of agricultural commodities, life necessities, items of basic human needs, organic and natural products and processed foods etc and other essential goods, infrastructural products among others.