IFL Enterprises Ltd secured export orders worth USD 8.16 million – Approx. Rs. 67 crore

Commenting on the development, Mr. Dolar Shah, Managing Director & CFO, IFL Enterprises Ltd said, “We are happy that our company has won a prestigious order worth USD 8.16 million which is to be executed in the FY23-24. This order is subject to 80% initial advance payment as per the agreed terms. Shipments are expected to start from June 2023. The company is working towards executing its growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality services. Company is expected to grow from strength-to-strength and poised for rapid growth in the years to come.”

Incorporated in the year 2009, IFL Enterprises Ltd is a leading Paper trading company. It offers a diverse product range which includes All kinds of Paper related items. like Writing paper, coated paper, A/4 paper, Hi bright, Copier paper, Duplex Board, Art and Craft paper, Notebooks, etc.

“Thought leadership and deep insight of the management allows the company to discover new opportunities and perform to its true potential. The company continues to deliver value and commitment based on the highest professional standards and aims to leverage the growth opportunities in the economy,” said Mr. Shah.

                                                                       Order details

The company in its board meeting held on April 24, 2023, has allotted 4.54 crore equity shares of Rs. 1 each as fully paid bonus shares to the existing shareholders of the company. The company had declared bonus issue in a 1:4 ratio (One fully paid equity share for every four equity shares held) and stock split in a 1:10 ratio (One equity share of the face value of Rs. 10 each into 10  equity shares of the face value of Rs.1 each) in order to enhance the liquidity. It had set April 21^st, 2023 as the record date to determine the eligibility of shareholders to receive the benefits of these corporate actions.

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