Multibagger stock declares 1:4 bonus issue & stock split, up 1000% in 1 year
3 min read . Updated: 09 Mar 2023, 08:43 PM IST
Premium- With a market valuation of ₹281.25 Cr, IFL Enterprises Ltd. is a small-cap business that operates in the commercial services industry.
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 declared dual benefits for its eligible shareholders by issuing bonus shares and stock split. The company has declared bonus issue in a 1:4 ratio and stock split in a 1:10 ratio in order to enhance the liquidity flow of its shares in the market.
The Board of Directors of the company at their meeting held on today i.e. March 09, 2023, said in a regulatory filing that they have considered “Approval for stock split (sub-division of equity shares) of Company's 01 (One) equity share of face value of Rs. 10/- each into 10 (Ten) equity shares of face value of Rs. 01/- each, subject to the approval of shareholders to be obtained by Postal Ballot and other approvals as may be required. In this respect the record date shall be decided by the board and will be intimated to exchange."
The Board of IFL Enterprises said they have approved “Issuance of Bonus issue of equity shares in proportion of 01 (one) equity share of Rs. 01/- each for every 04 (Four) equity shares of Rs. 01/- each held by the shareholder of the Company as on record date, subject to the approval of shareholders by Postal Ballot. In this respect the record date shall be decided by the board and will be intimated to exchange."
Citing the rationale behind the stock split and bonus share issuance, the company said the decision will enhance the liquidity in the capital market, widen the shareholders’ base and make the shares more affordable to small investors.
IFL Enterprises recorded a net profit of ₹0.15 crore for the quarter that ended in December 2022 as opposed to a net loss of ₹2.36 crore for the quarter that ended in December 2021. The company said its revenue from operations reached ₹0.50 crore in Q3FY23, down by 12.28% from ₹0.57 Cr recorded in Q3FY22. The EPS of IFL Enterprises stood at ₹0.08 Cr in Q3FY23 compared to a loss of ₹7.87 in Q3FY22.
The shares of IFL Enterprises Ltd closed today on the BSE at ₹154.60 apiece, down by 0.10% from the previous close of ₹154.75. The stock recorded a total average volume of 1,67,514 shares and a total deliverable volume average of 1,37,483 shares or 82.07%. The stock price climbed from Rs. 5.20 to the current market price during the past five years, resulting in a multibagger return of 3,325.41%. The stock price rose from ₹8.01 to the current market price over the past three years, registering a multibagger gain of 1,835.08%.
The stock price jumped from Rs. 14.15 to the current market price during the course of the past year, resulting in a multibagger return of 1,019.13%. In 2023, it has appreciated 9.26% YTD, and over the last six months, the stock has produced a multibagger return of 106.55%. The stock touched a 52-week-high of ₹183.90 on (16/02/2023) and a 52-week-low of ₹13.50 on (10/03/2022), indicating that at the current market price, the stock is trading 15.93% below the 1-year high and 1,045.18% above the 1 year low. During Q3FY23, the company recorded a promoter shareholding of 1.21% and a public stake of 98.79%.