Stock broking company, IFL Enterprises is going to be in focus next week as the company's board of directors will meet to consider fundraising plan. This comes after IFL's shares turned ex-bonus for bonus issue ratio of 1:150. Adjusting to bonus ratio, the stock price is currently below Rs 2.
IFL Enterprises Share Price:
The stock price ended at Rs 1.17 apiece, up by 1.74% on BSE, on September 20, 2024. The market cap is at Rs 87.79 crore.
The stock's 52-week high and low is at Rs 10.60 apiece and Rs 1.03 apiece respectively.
In a month, the stock is down by nearly 16% on BSE. The price-to-equity ratio of IFL is at 38.01x, while its return on equity is low at 2.99%.
IFL Enterprises Bonus Issue:
The penny stock turned ex-bonus on September 20, ahead of its record date on September 21 for its bonus issue ratio of 1:150. Only those investors will be eligible who are holding IFL shares in their demat account by end of record date.
The 1:150 ratio means that 1 new equity share of Rs. 1 each for every 150 Equity share of Rs. 1 each.
IFL Enterprises Fundraising:
The company's board of directors meeting is scheduled on September 25, 2024. The following business will be considered:
- To evaluate, in terms of the company's long-term business growth plans, the proposal for raising of funds by way of inter-alia, issue of equity shares or any other equity linked instruments or securities including convertible preference shares/ fully or partly convertible debentures or by way of a composite issue of nonconvertible debentures and warrants entitling the warrant holder(s) to apply for equity shares, or any other eligible securities through inter alia, a private placement (including one or more qualified institutions placements) or through any other permissible mode under applicable laws and/ or combination thereof, as may be considered appropriate, subject to applicable members/statutory/regulatory/other approvals.
- To increase the Authorized Share Capital of the Company and consequent amendments in Memorandum and Articles of Association of the Company, if any.
- To seek members' approval wherever applicable by means of passing the requisite resolution(s) for the above-said board decisions and other matters connected therewith and/or incidental thereto.
About IFL Enterprises:
IFL ENTERPRISES LIMITED is involved in the business of acquisition, trading of shares, stocks, bonds, and trading of Paper, Stationery items etc. . It also carries on the business of all kinds of Paper and other similar products.
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