Penny Stock Below Rs 2: Board Announces 60:91 Rights Issue; Check Opening & Closing Dates of Issue Inside
The stock is up by 98.2 per cent from its 52-week low of Re 0.56 per share and a whopping 485 per cent in 5 years.
On Tuesday, shares of IFL Enterprises Ltd gained 1.83 per cent to Rs 1.11 per share from its previous closing of Rs 1.09 per share with an intraday high of Rs 1.13 per share and an intraday low of Rs 1.10 per share. The stock’s 52-week high is Rs 1.70 per share and its 52-week low is Re 0.56 per share.
IFL Enterprises Ltd. has secured "In Principle Approval" from BSE Limited for a Rights Issue aiming to raise up to INR 50.00 crore. The company will offer 49,47,19,229 fully paid-up equity shares with a face value of Re 1 each, at a Rights Issue Price of Re 1 per share. The Record Date to determine eligible shareholders for this issue was June 13, 2025.
The Rights Issue will open on Monday, June 23, 2025, and close on Monday, June 30, 2025. Shareholders can renounce their rights entitlements on-market until Wednesday, June 25, 2025. The Rights Entitlement Ratio has been set at 60 rights equity shares for every 91 fully paid-up equity shares held by eligible shareholders as of the record date. The company's board retains the right to extend the issue period, but it will not exceed 30 days from the opening date. No application withdrawals will be permitted after the issue closing date.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
Incorporated in 2009, IFL Enterprises Ltd operates primarily in the trading of fabric and related products, as well as shares and securities. The company's business overview highlights its involvement in the acquisition and trading of shares, stocks, and bonds, alongside a diverse range of paper and stationery items. Specifically, IFL Enterprises Ltd trades in various paper products such as writing paper, coated paper, A/4 paper, Hi Bright, copier paper, duplex board, art and craft paper, and notebooks.
According to Quarterly Results, the net sales increased by 3,525 per cent to Rs 72.13 crore in Q4FY25 compared to net sales of Rs 1.99 crore in Q4FY24. The company reported a net profit of Rs 3.04 crore in Q4FY24 compared to a net loss of Rs 0.68 crore in Q4FY24, an increase of 547 per cent. In FY25, the net sales increased by 1,362 per cent to Rs 120.61s crore and net profit increased by 236 per cent to Rs 2.86 crore compared to FY24.
IFL Enterprises has a market cap of Rs 137.84 crore and working capital requirements have reduced from 735 days to 70.3 days with debtor days having improved from 146 to 15.8 days. The stock is up by 98.2 per cent from its 52-week low of Re 0.56 per share and a whopping 485 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.