60:91 Rights Issue Announced After 1:150 Bonus Shares: Penny Stock Under Re 1 To Keep Under Radar
IFL Enterprises has a market cap of Rs 71.28 crore and the stock gave multibagger returns of 300 per cent in 5 years.
IFL Enterprises Limited is proposing a right issue of up to 60 new Equity Shares for every 91 existing equity shares held. The total amount to be raised through this issue is expected to be approximately Rs 49,50,00,000. To facilitate this Right Issue, the company will increase its Authorized Share Capital from Rs 75,06,00,000 to Rs 1,30,00,00,000 and amend its Memorandum of Association accordingly. The detailed terms and procedures for participating in the right issue, including the record date for determining eligible shareholders, will be outlined in the letter of offer to be sent to eligible shareholders in due course.
Earlier, the shares of the company ex-traded bonus shares in the ratio 1:150 and the ex-date for bonus shares was September 20, 2024.
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IFL Enterprises Ltd, founded in 2009, is an Indian company that deals in two main areas: trading financial instruments like shares, stocks, and bonds, and trading various paper and stationery products. They offer a wide range of paper items including writing paper, coated paper, different paper sizes, copier paper, duplex board, art and craft paper and notebooks.
On Monday, shares of IFL Enterprises Ltd were plunged 0.94 per cent to Re 0.95 per share from its previous closing of Re 0.96 per share with an intraday high of Re 0.98 per share and an intraday low of Re 0.94 per share. The stock’s 52-week high is Rs 1.82 per share and its 52-week low is Re 0.92 per share. IFL Enterprises has a market cap of Rs 71.28 crore and the stock gave multibagger returns of 300 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.