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Agri commodity trading firm IFL Enterprises on Tuesday said its board has approved to raise up to Rs 49.14 crore through a rights issue of equity shares.
The issue will open for subscription for existing shareholders on June 19, and will conclude on June 30, IFL Enterprises informed BSE in a filing. The record date for determining the eligibility of shareholders for the rights issue is June 13, it added.
"The rights issue comprises 49,14,76,620 fully paid-up equity shares of face value Re 1 each, aggregating to Rs 49.14 crore. Proceeds from the issue will be used to strengthen the company's financial position and support general corporate purposes," the company, which is involved in import, export and trading of agri commodities, said in a statement.
The capital will be used to enhance operational efficiency and expand service capabilities, it added.
The company in June last year had raised Rs 49.53 crore through a rights issue to fund its expansion plans. Its revenue jumped multifold to Rs 120 crore in FY 2024-25.
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