Integra Essentia acquires substantial interest in rice processing facility in UP

8 Aug 2022 , 12:20 PM

Integra Essentia Limited has announced the acquisition of substantial interest in Rice Processing Facility situated in Bareilly, Uttar Pradesh through a Joint-Venture Agreement with the existing shareholders, wherein Integra Essentia shall hold 66% stakes in the Joint Venture which is having an already operational facility to produce Premium Export Rice for domestic as well as international markets. 

This state of the art facility is spread over 4500 Square Mtrs and having annual installed capacity of 21000 Metric Tonnes of Export Quality Rice, up-to-date equipment of the processing unit are sourced from Japan and the United States, the company said.

The Company has been sourcing processed rice for its business of supplying goods and with the addition of this processing facility, the Company shall have better control over the quality along-with better economies.

This acquisition not only strengthen Integra Essentia’s positioning in Premium Rice supplies, but also extends its presence deeper in the supply chain of life essential items.

Commenting on the development, Vishesh Gupta, Managing Director of the Integra Essentia said “Our intention is very clear, we want to grow company’s business, its reach and obviously profitability significantly and this acquisition is only a step one in that direction.”

At around 12:19 PM, Integra Essentia was trading at Rs6.28 per share lower by 4.99% as against previous closing at Rs6.61% on the BSE.