IFL Enterprises Rights Issue

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 shares16 May 2024
Record Date17 May 2024
Credit of Rights Entitlements23 May 2024
Bid/Offer Opens On27 May 2024
Renunciation of Rights Entitlements20 June 2024
Bid/Offer Closes On25 June 2024
Deemed Date of Allotment03 July 2024
Credit Date08 July 2024
Listing Date11 July 2024

IFL Enterprises Rights Issue Details

Issue OpenMay 27, 2024 – June 25, 2024
Security NameIfl 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 AtBSE
Terms of PaymentFull amount of Rs. 18 per Equity Share is payable on application.
Entitlement198 Rights Equity Share(s) for every 100 fully paid-up Equity Shares held on Record Date

Company Financials

 FY 2021FY 2022FY 2023
Operating Margin (%)5.2912.2912.75
Net Income0.120.210.51
ROCE (%)(1.70)(19.70)4.43
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

D-153A, 1st Floor, Okhla Industrial Area,
Phase-I, New Delhi-110020
Phone: 011-40450193/97

Company Contact Information

Office No. 412, 4th-floor Shilp Zaveri, Samruddhi Soc.,
Nr. Shyamal Cross Road, Satellite, Ahmedabad, 380015
Phone: +91-7990080239

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

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