With a market valuation of Rs 27.73 crore, IFL Enterprises Ltd is a small company operating in the business services industry. In addition to acquiring and trading shares, stocks, bonds and other businesses, the company is also engaged in the trade of various textiles and related commodities. The company is also a fabric and textile trading company with offices in Delhi, offering a wide range of products, including heavyweight fabrics and fabric-related products.

Today, the company has notified the BSE that “the board of directors has considered, approved and recommended the issuance of (1:1) 1 bonus share for every share held by the company’s shareholders. Bonus issuance of share capital is subject to shareholder approval and any other applicable statutory and regulatory approval (as required). Bonus shares, once allotted, shall have equal rights in all respects and have the same rights as existing equity shares and shall be entitled to participate fully in any dividends. Other corporate actions proposed and declared post-issuance if any allot such bonus shares.”

The board has also “considered and approved the migration of the company’s current listing from the BSE’s SME platform to the BSE Limited’s main board, subject to shareholder approval and any other applicable statutory and regulatory approvals that may be required,” the company said in a BSE filing.

Shares of IFL Enterprises closed at the Rs 92.35 level today, down 0.59% from its previous close. The stock has a 1-year multiple of 267.93% and a 2022-to-date multiple of 289.66%. The stock has returned 179.43% in multiples over the past six months, surging 11.87% in 1 month.