IFL Enterprises Rights Issue Date, Price, Allotment, Entitlement

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Last updated on May 24, 2024

IFL Enterprises Rights Issue

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.

IFL Enterprises

Promoters of IFL Enterprises – Mr. Nishant Subhashchandra Gandhi


IFL Enterprises Rights Issue Details

IFL Enterprises Rights Issue Date27 May – 25 June 2024
IFL Enterprises Rights Issue PriceINR 1 per share
Issue Size (in Shares)49,52,69,896 shares
Issue Size (in INR)INR 49.53 crore
Issue Entitlement198 equity shares for every 100 equity shares held on record date
Terms of PaymentFully payable at the time of application
Rights Issue Record Date17 May 2024
Face ValueINR 1 per share
Listing OnBSE

IFL Enterprises Rights Issue Calculation

IFL Enterprises Rights Issue PriceINR 1 per share
Market Price on Rights Issue ApprovalINR 1.31 per share
Dilution Factor (X) 2.98
Fair Value After Dilution at Prevailing PriceINR 1.10 per share

IFL Enterprises Financial Performance

 FY 2021FY 2022FY 2023
Revenue1.361.465.55
Expenses1.552.735.76
Operating Margin (%)5.2912.2912.75
Net Income0.120.210.51
ROCE (%)(1.70)(19.70)4.43
Figures in INR Crores unless specified otherwise

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 Dates

Rights Issue Approval Date9 May 2024
Rights Issue Record Date17 May 2024
Credit of Rights Entitlement23 May 2024
Rights Issue Opening Date27 May 2024
Last Date for Market Renunciation20 June 2024
Rights Issue Closing Date25 June 2024
Finalization of Basis of Allotment3 July 2024
Rights Allotment Date3 July 2024
Credit Date 8 July 2024
Listing Date11 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: 011-40450193/97
Email: 
[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: +91-7990080239
Email: 
[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.

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