IFL Enterprises Launches Rs 50 Crore Rights Issue to Boost Financial Position
IFL Enterprises, an agri commodity trader, announced a rights issue to raise approximately Rs 50 crore from current shareholders. The funds are intended to enhance the company's financial standing and support general corporate activities. Shareholders have until June end to participate in the offer.
- Country:
- India
Agri commodity trader IFL Enterprises has embarked on a significant financial move, unveiling a rights issue seeking to raise roughly Rs 50 crore from its existing shareholders.
The subscription period for this rights issue began on June 23 and is scheduled to close on June 30, offering shareholders a chance to strengthen their stakes.
The proceeds from this issuance are earmarked to bolster the company's financial health and support its core business functions. According to the company's release, the issue includes 49,14,76,620 fully paid-up equity shares, amounting to Rs 49.15 crore, with the application ratio set at 60 rights equity shares for every 91 fully-paid shares held. IFL Enterprises, headquartered in Ahmedabad, has marked substantial growth, recording a revenue surge to Rs 120 crore in the fiscal year 2025.
(With inputs from agencies.)
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