IFL Enterprises Rights Issue will open for subscription from 27 May 2024. the company aims for an issue size of ₹49.53 Crores through this rights Issue.
About the company
Incorporated in 2009, IFL Enterprises, formerly a subsidiary of India Finsec Limited, manages the group’s other business activities. The company specializes in corporate advisory, debt syndication, and execution services, with a strong emphasis on small and medium enterprises (SMEs) in both the corporate and non-corporate sectors. Additionally, IFL Enterprises has been involved in the trade of textile products, primarily fabrics.
The company has acquired Direct Selling Agency (DSA) agreements with PNB Housing Finance, Tata Capital Housing Finance Ltd, and IDFC Bank, and is working to obtain DSA agreements with ICICI Bank, Axis Bank, IDBI Bank, and India Bulls. It trades textile products, serving as an intermediary between buyers and sellers. The company purchases goods on a cash basis and extends credit to businessmen who may lack sufficient cash flow in this industry.
Objectives of the Issue
- To Meet working capital of the company
- General Corporate Purposes; and
- Issue Expenses.
IFL Enterprises Rights Issue Timetable
| Last Date to buy shares | 16 May 2024 |
| Record Date | 17 May 2024 |
| Credit of Rights Entitlements | 23 May 2024 |
| Bid/Offer Opens On | 27 May 2024 |
| Renunciation of Rights Entitlements | 20 June 2024 |
| Bid/Offer Closes On | 25 June 2024 |
| Deemed Date of Allotment | 03 July 2024 |
| Credit Date | 08 July 2024 |
| Listing Date | 11 July 2024 |
IFL Enterprises Rights Issue Details
| Issue Open | May 27, 2024 – June 25, 2024 |
| Security Name | Ifl Enterprises Ltd |
| Issue Size (Shares) | 495,269,896 |
| Issue Size (Amount) | ₹49.53 Crores |
| Issue Price | ₹1 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Full amount of Rs. 18 per Equity Share is payable on application. |
| Entitlement | 198 Rights Equity Share(s) for every 100 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 1.36 | 1.46 | 5.55 |
| Expenses | 1.55 | 2.73 | 5.76 |
| Operating Margin (%) | 5.29 | 12.29 | 12.75 |
| Net Income | 0.12 | 0.21 | 0.51 |
| ROCE (%) | (1.70) | (19.70) | 4.43 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st Floor, Okhla Industrial Area,
Phase-I, New Delhi-110020
Phone: 011-40450193/97
Email: admin@skylinerta.com
Website: www.skylinerta.com
Company Contact Information
IFL ENTERPRISES LIMITED
Office No. 412, 4th-floor Shilp Zaveri, Samruddhi Soc.,
Nr. Shyamal Cross Road, Satellite, Ahmedabad, 380015
Phone: +91-7990080239
Email: Iflenterprice3@gmail.com
Website: www.iflenterprises.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
