with a market valuation of 281.25 Cr, IFL Enterprises Ltd. is a small-cap business that operates in the commercial services industry. The corporation is engaged in the business of trading bonds, stocks and other financial instruments. The company has announced a twin benefit to its eligible shareholders by issuing bonus shares and stock split. The company has announced bonus issue in the ratio of 1:4 and stock split in the ratio of 1:10 to increase the liquidity flow of its shares in the market.
The Board of Directors of the Company in its meeting held today i.e. March 09, 2023 stated in a regulatory filing that they have considered approval for Stock Split (sub-division of Equity Shares) of 01 (one) Equity Share of the Company. Face value of Rs. 10/- each in 10 (ten) Equity Shares of face value of Rs. 01/- each, subject to the approval of the shareholders to be obtained by postal ballot and such other approvals as may be required. The record date in this regard will be decided by the Board and communicated to the Exchange.”
The Board of IFL Enterprises stated that they have approved the issue of Bonus of Equity Shares in the ratio of 01 (one) Equity Share per Equity Share. 01/- each for every 04 (four) Equity Shares of Rs. 01/- each held by a shareholder of the Company as on the Record Date, subject to the approval of the shareholders by postal ballot. The record date in this regard will be decided by the Board and communicated to the Exchange.”
Citing the rationale behind the share split and issue of bonus shares, the company said the decision would enhance liquidity in the capital market, broaden the shareholder base and make shares more affordable for small investors.
IFL Enterprises recorded a net profit of 0.15 crore for the quarter ending December 2022 as against a net loss of Rs. 2.36 crore for the quarter ending December 2021. The company said its revenue from operations reached 0.50 crore in Q3FY23, down 12.28% 0.57 crore was recorded in Q3FY22. EPS of IFL Enterprises stood As compared to loss of 0.08 Cr in Q3FY23 7.87 in Q3FY22.
Shares of IFL Enterprises Ltd closed today on BSE Down 0.10% from previous close of 154.60 154.75. The stock registered a total average volume of 1,67,514 shares and a total distributable volume of 1,37,483 shares or 82.07%. The share price climbed from Rs. 5.20 at the current market price during the last five years, resulting in multibagger returns of 3,325.41%. share price increased from 8.01, registering a multibagger gain of 1,835.08% at the current market price in the last three years.
The share price jumped from Rs. 14.15 to the current market value during the last year, resulting in a multibagger return of 1,019.13%. In 2023, it has appreciated 9.26% YTD, and in the last six months, the stock has given multibagger returns of 106.55%. The stock touched a 52-week high 183.90 (16/02/2023) and at 52-week low 13.50 on (10/03/2022), indicating that at the current market price, the stock is trading 15.93% down from 1-year high and 1,045.18% up from 1-year low. During Q3FY23, the company registered promoter shareholding of 1.21% and public shareholding of 98.79%.
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