IFL Enterprises Greenlights Rs 49.14 Crore Rights Issue
IFL Enterprises plans to raise Rs 49.14 crore through a rights issue starting June 19, 2023. The funds will bolster the company's financial standing and support expansion. Previously raising Rs 49.53 crore, IFL's revenue soared to Rs 120 crore in FY 2024-25.
- Country:
- India
Agri commodity trading company IFL Enterprises has announced its board's approval for a Rs 49.14 crore rights issue. The issue aims to enhance the firm's financial stability and support corporate objectives.
The subscription period runs from June 19 to June 30, with eligibility determined based on a record date of June 13. The rights issue consists of over 49.14 crore equity shares with a face value of Re 1 each.
The capital raised will facilitate operational efficiency and expand the company's service capabilities. IFL previously raised Rs 49.53 crore for its expansion initiatives, resulting in a substantial revenue increase to Rs 120 crore in FY 2024-25.
(With inputs from agencies.)
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