1:150 Bonus Shares: 21st September Record Date, For Every 150 Shares Get 1 Free; Buy?

IFL Enterprises engages in the acquisition and trade of stocks, bonds, shares, and paper products, among other things. It also does business in the sale of paper products of all types and other comparable products. It is a Delhi-based paper trading enterprise. A wide variety of paper-related products are offered by the company, including writing paper, coated paper, A/4 paper, Hi-Bright, copier paper, duplex board, art and craft paper, notebooks, and more.

IFL Enterprises Bonus Shares

"Pursuant to regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company has fixed Saturday, 21st September, 2024 as the "record date" for the purpose of determining the eligibility of shareholders for issuance of Bonus Shares in the ratio of 1:150 (i.e., 1 new equity share of Rs. 1 each for every 150 Equity share of Rs. 1 each held as on the above-mentioned record date) subject to approval of shareholder in the ensuing Annual General Meeting," said the company in a stock exchange filing.

IFL Enterprises Bonus Shares Allotment

According to IFL Enterprises, the bonus shares shall be issued and allotted only to such eligible equity shareholders whose entire holdings in the company are in demat form and shall be credited in electronic form to the allottees.

IFL Enterprises Stock Split & Bonus Shares In FY23

"During the year ended, the company has split its 1,81,92,344 equity shares of face value of Rs.10 each fully paid-up into 181,923,440 equity shares of face value of Re.1/- each fully paid-up w.e.f 21st April, 2023 as recommended by the board of directors and approved by the shareholders of the company at its Meeting dated 12th April,2024. During the year ended, the Company has also issued 4,54,80,440 fully paid equity shares of Re.1/- each fully paid Bonus Shares to the existing shareholders of the Company as on record date April 21st, 2023 in the ratio of 1:4 i.e. one fully paid equity shares for every 4 existing equity shares held and 2,27,32,431 fully paid equity shares of Re.1/- each to the existing shareholders of the Company as on record date 18 December 2023 in the proportion of 1:10 i.e. one new fully paid equity shares for every 10 existing equity shares held," IFL Enterprises said in a report.

IFL Enterprises Share Price Target

"IFL Enterprises stock price is bearish on the Daily charts with strong resistance at 1.21. A Daily close below support of 1.1 could lead to a target of 0.87 in the near term," said A R Ramachandran, Independent Research Analyst.

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