1:10 Bonus Issue: Multibagger Small Cap Stock Withdraws Record Date, Hits Lower Circuit

Small cap stock IFL Enterprises on November 2 decided to withdraw the record date of November 17 for 1:10 bonus issue only. The Board of the company will intimate the exchange once it decides the record date. IFL Enterprises shares hit 5% lower circuit in trade on November 3, 2023. Last trading price of IFL Enterprises stock on BSE is Rs 6.97 per share. IFL Enterprises shares declined 49% in last 3-months and offered return of 590% in last 2-years.

Earlier, Board of IFL Enterprises fixed November 17 as the record date for 1:10 bonus share and interim dividend of 1 paisa/- per equity share of the face value of Re 1/- each for the financial year 2023-24. Check details below:

IFL Enterprises Withdraws Record Date For 1:10 Bonus Issue: According to the BSE filing of the company dated November 2, 2023, "In reference to our board meeting outcome dated 01st November, 2023 submitted to exchange, we hereby intimate the exchange about the withdrawal of record date of 17th November, 2023 for the purpose of issue of bonus shares only. We further inform that, once the board decides record date for the purpose of bonus issue of shares, it will be intimated to the exchange in compliance with regulation 42 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015."

IFL Enterprises Declared Bonus Issue, Interim Dividend: Board of IFL on Nov 1 issued regulatory filing stating, "The board has declared an Interim Dividend @ 0.01% i.e., 1 paisa/‐ per Equity Share of face value of Re. 1/‐each for the Financial Year 2023-2024. The record date for the purpose of payment of Interim Dividend is fixed as Friday, November 17, 2023. The said interim dividend will be paid within 30 days from the date of declaration."

The Board considered and recommended a bonus issue in the ratio of 1:10 i.e. 1 (One) New Bonus Equity Share for every 10 (Ten) existing fully paid up Equity Shares of Rs 1/- each, subject to approval by the members and any other applicable statutory and regulatory approvals through postal ballot."

IFL Enterprises Stock Performance & Return: Last trading price of IFL Enterprises share on BSE is Rs 6.97 per share. Its 52-week high price is Rs 16.90 per share and 52-week low price is Rs 6.84 per share, respectively. The company's market capitalisation is Rs 158.50 crore. IFL Enterprises shares fell 22% in last 2-weeks, declined 23% in last 1-year, rallied 590% in last 2-years, and soared 793% in last 3-years. In last 5-years, IFL Enterprises stock jumped 2078%.

IFL Enterprises Financials: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 2.79 crore, down 44.41% as against its last quarter total income of Rs 5.01%. It announced its recent quarter net profit after tax at Rs .34 crore.

IFL Enterprises Ltd About: IFL Enterprises Limited is involved in the business of acquisition, trading of shares, stocks, bonds, and trading of Paper, Stationery items etc. It is also engaged in the business of all kinds of Paper and other similar products. IFL Enterprises made its debut on Dalal Street way back in March 2017.

Disclaimer: The stock just highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.