IFL Enterprises to raise nearly Rs 50 cr via rights issue, offer closes on June 30

Mumbai, Jun 25 (PTI) Agri commodity trader IFL Enterprises on Wednesday said it has launched a rights issue to raise around Rs 50 crore from existing shareholders.

The rights issue is open for subscription from June 23 to June 30.

"Proceeds from the issue will be used to strengthen the company's financial position and support general corporate purposes," the company said, adding that the issue comprises 49,14,76,620 fully paid-up equity shares, aggregating to Rs 49.15 crore.

Shareholders will be eligible to apply for the shares in the ratio of 60 rights equity shares for every 91 fully paid-up equity shares held, IFL said.

Ahmedabad-based IFL Enterprises is engaged in import, export and trading of agri commodities. It reported a multifold rise in revenue to Rs 120 crore in FY 25. PTI HG ANU ANU