₹49.53 Crores | Listing at BSE | Mon, May 27, 2024 - Tue, Jun 25, 2024
Ifl Enterprises Ltd Rights Issue comprises 49.53 Cr equity shares aggregating to ₹49.53 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is May 17, 2024, with the Rights Issue being offered in the entitlement ratio of 198 : 100.
The term of payment is defined as following : Full amount of Rs. 18 per Equity Share is payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 3, 2024.
The Rights Issue opens on May 27, 2024, and closes on Jun 25, 2024, with renunciation of Rights Entitlements permitted up to Jun 20, 2024.
The deemed date of allotment is Jul 3, 2024, following which the equity shares are expected to be credited to demat accounts on Jul 8, 2024 and listed at the BSE on Jul 11, 2024.
Skyline Financial Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Ifl Enterprises Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, May 17, 2024
Entitlement Ratio
198 : 100
Open Date
Mon, May 27, 2024
Close Date
Tue, Jun 25, 2024
Full amount of Rs. 18 per Equity Share is payable on application.
| Period Ended | 31 Dec 2024 | 31 Mar 2023 |
| Assets | 29.06 | 28.50 |
| Revenue | 7.31 | 9.47 |
| Profit After Tax | 1.52 | 0.52 |
| Net Worth | 26.30 | 25.01 |
| Total Borrowing | 0.52 | |
| Amount in ₹ Crore | ||
Incorporated in 2009, IFL Enterprises Ltd, a subsidiary of India Finsec Ltd is engaged in corporate advisory, debt syndication, and execution services with a focus on small and medium enterprises in corporate and non-corporate sectors in India. They are also involved in the business of trading in textile products primarily fabrics.
They acquired Direct Selling Agency of PNB Housing Finance, Tata Capital Housing Finance Ltd, and IDFC Bank, and are in the process of obtaining DSA for ICICI Bank, Axis Bank, IDBI Bank, and India Bulls. They are a trader in textile products and act as an intermediary between buyers and sellers. They buy goods on cash basis and provide credit to cash-strapped businessmen in this field.
The objects of the issue are:
[Dilip Davda] Though this RI is at par, it’s a “High Risk/Low Return” bet. It has financial performance only for the last 21 months and in particular its 9M-FY24 performance appears to be a window dressing. Nearly threefold hike in equity post RI indicates servicing issue as well. Low promoters’ holding also raise concern. There is no harm in skipping this at par offer. Read detail review...
IFL Enterprises Rights Issue 2024 got oversubscribed by 1.21 times by the end of the bidding period with total bid quantity received by BSE of 59,80,67,435 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Jun 25 2024 17:00:00 | 59,80,67,435 | 1.21x |
Ifl Enterprises Ltd
Office No. 412, 4th floor Shilp Zaveri,
Samruddhi Soc., Nr. Shyamal Cross Road
Satellite, Ahmedabad, 380015
Ahmedabad, Gujarat, 380015
Skyline Financial Services Pvt.Ltd.
The IFL Enterprises Rights Issue 2024 opens on Mon, May 27, 2024, and closes on Tue, Jun 25, 2024.
IFL Enterprises Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Thu, May 23, 2024 |
| Last Date for renunciation of Rights Entitlements | Thu, Jun 20, 2024 |
| Issue Opening Date | Mon, May 27, 2024 |
| Issue Closing Date | Tue, Jun 25, 2024 |
| Date of Allotment (on or about) | Wed, Jul 3, 2024 |
| Date of Credit (on or about) | Mon, Jul 8, 2024 |
| Date of Listing (on or about) | Thu, Jul 11, 2024 |
You can apply for IFL Enterprises Rights Issue 2024 in two ways:
Steps to apply for IFL Enterprises Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for IFL Enterprises Rights Issue 2024 using Registrar's website (R-WAP)
