Multibagger stock fixes record date for 1:1 bonus shares, hits record high

Market


Bonus shares in September 2022: The board of directors of IFL Enterprises Limited has fixed 21st September 2022 as record date for the issuance of bonus shares. IFL Enterprises shares will trade ex-bonus on 20th September 2022. The company’s board has already approved and declared bonus shares in 1:1 ratio. After announcement of bonus shares record date, the small-cap stock has climbed to its life-time high of 158 apiece on BSE in early morning deals on Thursday.

As per the information available on BSE website, “Trading Members of the Exchange are hereby informed that, IFL Enterprises Limited has fixed Record Date for the purpose of Bonus Issue. The transactions in the Equity Shares of the Company would be on an Ex-bonus basis with effect from the under mentioned date 21/09/2022.”

In July 2022, the small-cap company had informed Indian stock market exchange about the bonus share issue citing, “The Board of Directors has considered, approved and recommended issue of (1:1) One Bonus Share for every one equity share held by the equity shareholders of the Company. The bonus issue of equity shares is subject to the approval of the shareholders and any other applicable statutory and regulatory approvals, as may be required. The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared, if any, after the issue and allotment of such Bonus Shares.”

IFL Enterprises share price history

IFL Enterprises shares are one of the multibagger stocks that Indian stock market has produced in 2022. In year-to-date (YTD) time, IFL Enterprises share price has risen from around 24 to 158, recording more than 550 per cent rise in the year 2022. In last 5 years, this small-cap multibagger stock has risen from 10 apiece levels to 158 mark, logging around 1500 per cent rise in this period.

The small-cap stock is available for trade on BSE only and its current market cap is 143 crore. Its current trade volume on BSE in early morning deals is around 6,000 this means the stock is a low float stock and it is suitable for high risk traders.

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