10-May-2024
2 mins read
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IFL Enterprises Limited came up with the right issue. The issue size reported by the company is 125,068,156 Equity shares with a decided issue price of Rs 3.96 per share, a total amounting to Rs 49.53 Crores. At the same time, the face value is Re 1 per share. Investors who currently do not hold shares of IFL Enterprises Limited have the opportunity to purchase shares until May 16, 2024, to qualify for this rights issue. It's important to note that the record date for eligibility is May 17, 2024. The registrar for this right issue has not yet been declared. If we look at the entitlement ratio, it is reported that 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date.
About IFL Enterprises Limited
IFL Enterprises Ltd is a subsidiary of India Finsec Ltd, which was established in 2009. The company specializes in providing corporate advisory, debt syndication, and execution services, primarily targeting small and medium enterprises across various sectors in India. Alongside these services, the company is actively involved in textile trading, primarily dealing in fabrics. They have acquired the Direct Selling Agency of prominent institutions like PNB Housing Finance, Tata Capital Housing Finance Ltd, and IDFC Bank and are in the process of obtaining DSAs for ICICI Bank, Axis Bank, IDBI Bank, and India Bulls. Serving as intermediaries facilitating transactions between buyers and sellers, they conduct transactions on a cash basis while providing credit facilities to cash-strapped businessmen in the textile industry.
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Financial Performance of IFL Enterprises Limited (Amt in Rs Crore)
The company financials reported for the period ending March 31, 2023 as assets amounted to Rs 28.50 Crore, revenue was Rs 9.47 Crore, and the profit after tax stood at Rs 0.52 Crore.
| Period Ended | 31-Mar-23 |
| Assets | 28.5 |
| Revenue | 9.47 |
| Profit After Tax | 0.52 |
Important Dates for IFL Enterprises Rights Issue
| Issue Open | May 27, 2024 – June 25, 2024 |
| Security Name | IFL Enterprises Ltd |
| Issue Size (Shares) | 125,068,156 |
| Issue Size (Amount) | Rs 49.53 Crores |
| Issue Price | Rs 3.96 per share |
| Face Value | Re 1 per share |
| Listing At | BSE |
| Terms of Payment | Yet to be announced |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Timetable of IFL Enterprises Rights Issue
| Last Date to buy shares | 16-May-24 |
| Record Date | 17-May-24 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | 27-May-24 |
| Renunciation of Rights Entitlements | 20-Jun-24 |
| Bid/Offer Closes On | 25-Jun-24 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
How do I apply for the IFL Enterprises Rights Issue?
Once the company’s rights Issue application is open for subscription, you can click here to apply with Bigul.
How do I check the allotment status of the IFL Enterprises Rights Issue?
The registrar for this rights issue has not yet been announced. Investors can check the allotment status once the company announces the registrar.
FAQs
- What are the important dates for IFL Enterprises' right issue?
The important dates include the opening & closing dates of the right issue: May 27, 2024, and June 25 2024, respectively.
- What is the last Date to buy Shares?
To get eligible for the rights issue of IFL Enterprises limited, an investor can buy its shares till May 16, 2024.
- What is the record date for the IFL Enterprises Rights Issue?
The record date, which is the Date to determine the shareholder's eligibility for the Rights Issue, is May 17, 2024.
- What are the recent financial updates of IFL Enterprises Limited?
The company financials reported for the period ending March 31, 2023 as assets amounted to Rs 28.50 Crore, revenue was Rs 9.47 Crore, and the profit after tax stood at Rs 0.52 Crore.
- How can I apply for the IFL Enterprises Rights Issue?
You can apply for the IFL Enterprises Rights Issue by visiting here.
- How can I check the allotment status of the IFL Enterprises Issue?
The registrar for this right issue has not yet been announced. Investors can check the allotment status once the company announces the registrar.
- From where can I get the Letter of Offer for this Rights Issue?
You can download the Letter of Offer by visiting here.
- Where will the IFL Enterprises Right Issue be listed?
The Rights Issue will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
- What is the entitlement ratio for the IFL Enterprises Limited Right Issue?
The entitlement ratio is set at 1 Rights Equity Shares for every 2 fully paid-up equity shares held on the record date.
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