IFL Enterprises Rights Issue is scheduled on 27 May – 25 June 2024
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.
Promoters of IFL Enterprises – Mr. Nishant Subhashchandra Gandhi
Table of Contents
IFL Enterprises Rights Issue Details
| IFL Enterprises Rights Issue Date | 27 May – 25 June 2024 |
| IFL Enterprises Rights Issue Price | INR 1 per share |
| Issue Size (in Shares) | 49,52,69,896 shares |
| Issue Size (in INR) | INR 49.53 crore |
| Issue Entitlement | 198 equity shares for every 100 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Rights Issue Record Date | 17 May 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
IFL Enterprises Rights Issue Calculation
| IFL Enterprises Rights Issue Price | INR 1 per share |
| Market Price on Rights Issue Approval | INR 1.31 per share |
| Dilution Factor (X) | 2.98 |
| Fair Value After Dilution at Prevailing Price | INR 1.10 per share |
IFL Enterprises Financial Performance
| Â | 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 |
IFL Enterprises Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To Meet the working capital of the company – INR 36.65 crore
- General Corporate Purposes – INR 12.38 crore
- Issue Expenses – INR 0.50 crore
IFL Enterprises Rights Offer Documents
- IFL Enterprises Rights Issue Application Form
- IFL Enterprises Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
IFL Enterprises Rights Issue Dates
| Rights Issue Approval Date | 9 May 2024 |
| Rights Issue Record Date | 17 May 2024 |
| Credit of Rights Entitlement | 23 May 2024 |
| Rights Issue Opening Date | 27 May 2024 |
| Last Date for Market Renunciation | 20 June 2024 |
| Rights Issue Closing Date | 25 June 2024 |
| Finalization of Basis of Allotment | 3 July 2024 |
| Rights Allotment Date | 3 July 2024 |
| Credit Date | 8 July 2024 |
| Listing Date | 11 July 2024 |
IFL Enterprises Rights Offer Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st Floor, Okhla Industrial Area,
Phase-I, New Delhi-110020
Phone:Â 011-40450193/97
Email:Â [email protected]
Website: www.skylinerta.com
IFL Enterprises Contact Details
IFL ENTERPRISES LIMITED
Office No. 412, 4th-floor Shilp Zaveri, Samruddhi Soc.,
Nr. Shyamal Cross Road, Satellite, Ahmedabad, 380015
Phone:Â +91-7990080239
Email:Â [email protected]
Website: www.iflenterprises.com
IFL Enterprises Rights Offer FAQs
What is the IFL Enterprises Rights Issue Price?
The issue price is INR 3.96 per share.
What is the IFL Enterprises Rights Issue entitlement ratio?
The eligible shareholders are offered 198 Equity Shares for every 100 Equity Shares held on the record date.
What is the IFL Enterprises Rights Issue Record Date?
The Record date is 17 May 2024.
How to Apply for IFL Enterprises Rights Offer?
The best way to apply for the IFL Enterprises Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
