Penny Stock Under Rs 2 To Collect Rs 49.14 Cr Through Rights Offer; Doors Open June 19

IFL Enterprises Limited (BSE: 540377), an expanding player in the agricultural commodity sector, plans to launch a rights offer aimed at gathering Rs 49.14 crore. Subscriptions will be accepted from June 19 until June 30, 2025. Set at Rs 1 per share, the issue lets current investors enlarge their stake at a cost that may not be seen again.

The Board sanctioned the move on June 9, 2025. Only shareholders recorded on June 13-the designated cut-off-will be able to take part and may request 60 new shares for every 91 fully paid holdings. Rights entitlements can still be traded until June 24, 2025, for those wishing to transfer rather than apply.

The rights issue offers 491,476,620 fully paid equity shares with a nominal value of Rs 1, raising about Rs 49.14 crore. Proceeds will fortify the balance sheet and meet general corporate needs. The plan supports a wider growth agenda set by Managing Director Mr. Abhishek Pratapkumar Thakkar, who is pushing for sharper operations and new business avenues.

All clearances are in place, including the in-principle nod from BSE Limited, received on 19 May 2025. That endorsement came after the Draft Letter of Offer was filed on 7 March 2025 and follows the board's initial sanction on 30 December 2024 to raise up to Rs 50 crore.

IFL Enterprises turned in an excellent set of numbers over the last twelve months. For the year that finished on March 31, 2025, revenue from core operations reached Rs 120.60 crore, a sharp leap from the Rs 8.24 crore logged in FY24, which works out to better than thirteen times the previous total. The bottom line followed suit, climbing to Rs 2.99 crore in FY25 compared to Rs 84.5 lakh a year earlier, a year-on-year gain of 254 percent. In the fourth quarter of FY25 by itself, the group reported a consolidated net profit of Rs 3.04 crore, with revenues hitting Rs 72.13 crore, up from Rs 1.98 crore recorded in the same quarter a year prior.

In August 2024 the Board had also declared a bonus issue at 1-to-150, handing out one new share for every 150 held, another clear sign that the company wants to keep its shareholders happy.

Founded in 2009, IFL Enterprises Limited imports, exports and trades a wide range of farm goods, from fruits and vegetables to seeds and herbal lines. The firm also runs contract-farming operations, offers warehousing space and deals in financial products, including shares, stocks and bonds.