Stock Market News | Multibagger Stock: IFL Enterprises to Declare Bonus, Dividend Share Buyback Soon
IFL Enterprises is a paper trading firm. Its shares are among one of the top-performing small-cap stocks on Dalal Street that have delivered multibagger returns.
Stock Market News: In the ever-dynamic world of investments and stocks, there is a timeless adage that actions speak louder than words. IFL Enterprises, a Delhi-based paper trading company, is set to declare three rewards for its shareholders. The company announced that its board will meet next month to decide on declaring a dividend, bonus and share buyback for eligible shareholders.
Last week, IFL Enterprises said that the meeting of board of directors of the company is scheduled to be held on November 1 (Wednesday).
The recent announcement from IFL Enterprises underscores this sentiment as the company’s promoters have declared to acquire an additional stake in the organization in a span of 18 Months.
“The promoter group is gearing up to acquire a stake ranging from 2 per cent to 9 per cent of the total equity shares of the company. This acquisition is planned over a timespan of 12 to 18 months and the transaction will be an open market transaction,” the statement said.
“The decision to acquire this increased stake reflects not just the promoters’ confidence in IFL Enterprises’ future growth trajectory, but also underlines their unwavering commitment to the company’s sustained financial strength,” it added.
IFL Enterprises Dividend
As per the filing, the company’s board will consider the payment of interim dividends on the equity share capital of the company for the Financial Year 2023-2024.
IFL Enterprises Share Buyback
IFL Enterprises board will discuss and evaluate a proposal for a share buyback program upto 10 per cent of paid-up capital and free reserves of the company. The proposed buyback price is upto Rs 17 per share.
IFL Enterprises Bonus
The board will discuss the issuance of bonus shares to existing shareholders.
IFL Enterprises is a paper trading firm. Its shares are among one of the top-performing small-cap stocks on Dalal Street that have delivered multibagger returns. The BSE-listed stock has given more than 700 per cent return in two years.
