Bonus, dividend and buyback: BSE-listed IFL Enterprises set to announce triple bonanza for investors

The board of IFL Enterprises is set to announce bonus, dividend and a share buyback for its investors. According to an exchange communique, the board of IFL Enterprises will meet in the first week of November to consider the proposals.

IFL Enterprises is a leading paper trading firm based in Delhi. 

The company in an exchange filing said that it has the "board is scheduled to meet on November 1 (Wednesday) to transact the business items..."

"The board will discuss and evaluate a proposal for a share buyback program up to 10 per cent of paid-up capital and free reserves of the company. The proposed buyback price is up to Rs. 17 per share," the company said in a filing.

On dividend distribution, it said that the board will consider the payment of interim dividend on the equity share capital of the company for the financial year 2023-2024. Apart from this, the board will also discuss a proposal for the issuance of bonus shares to existing shareholders.

Ahead of the board meeting, the promoter/promoter group of IFL Enterprises has announced their intention to acquire an additional stake in the company through open market transactions.

“The promoter intends to acquire a stake ranging from 2 per cent to 9 per cent of the total equity share of the company in a span of 12 to 18 months. These acquisitions will be executed in compliance with all regulatory requirements and within the framework set forth by the SEBI and other relevant regulatory bodies,” the company said in a statement.

IFL Enterprises is a small-cap stock that has delivered multibagger returns of 705 per cent in the last two years to the investors. It has jumped 942 per cent in the last three years.