IFL Enterprises to decide on bonus shares, dividend

IFL Enterprises Limited has informed exchanges that its Board of Directors will meet on July 31, 2024 to consider issuance of bonus shares. The board will also consider a proposal to declare dividends.
 
Recently, the promoter acquired 12.6 lakh shares at Rs 1.83 per share from the open market. Additionally, IFL Enterprises has announced a rights issue priced at Re 1 per share, open from May 27, 2024, to June 25, 2024. 
 
Meanwhile, the company is expanding its horizons by venturing into international agro commodities, gemstones, and precious metal trading via its Dubai subsidiary. 

The Dubai subsidiary has reported a revenue of Rs 475 crores with a profit of Rs 47.5 crores in the last two months, indicating a strong profit margin of 10 per cent. Furthermore, the company expects another Rs 750 crores in revenue in the coming months. This expansion is aimed at diversifying and enhancing its revenue streams.