Please find enclosed herewith the Press Release issued by the Company regarding fund raise through the issue of convertible warrants.
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Integrated Industries Limited (BSE: 531889) has announced a proposed fundraise of ₹101.5 crore by issuing 4.06 crore convertible warrants at ₹25 per share on a preferential basis to promoter and non-promoter investors. Notable external investors Choice Strategic Advisors LLP and Accufolio Risers LLP have each committed ₹25 crore, while the promoter is putting in nearly half of the total amount. The money will be used for capacity expansion (CAPEX) at its subsidiary Nurture Well Foods Limited, strengthening working capital of subsidiaries, and building financial flexibility for new opportunities. The company, incorporated in 1995, operates in the FMCG food and bakery segment through subsidiaries, with its biscuit-making arm Nurture Well Foods running a 3,400 MT per month facility in Neemrana, Rajasthan.
This is a positive development for shareholders as it brings in marquee investors and promoter skin-in-the-game, signalling confidence in the company's growth. However, preferential warrant issuance at ₹25 per share could lead to dilution upon conversion, so existing shareholders should watch the conversion timeline and post-conversion shareholding pattern.