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Published: Apr 30, 2023
Updated: Apr 30, 2023
The leader in the business of trading all kinds of paper and stationery, IFL Enterprises has secured export orders from a Kenyan company, Frereana Holding Ltd, for the supply of writing books, textbooks, bond paper and copier papers for schools in Kenya. The total FOB value of the order is estimated at $ 8.16 million (Rs 67 crore).
The export shipments are scheduled from June 2023 and are expected to be completed by March 2024. The order is subject to 80% advance payment as per the agreed terms of the contract, with the balance 20% on delivery. Frereana Holding Ltd has confirmed the order to IFL Enterprises Ltd in its letter dated April 21, 2023.
Commenting on the development, Dolar Shah, Managing Director and CFO, IFL Enterprises, said, ”We are happy that our company has won a prestigious order worth $ 8.16 million which is to be executed in FY23-24. The company is working towards executing its growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality services. The company is expected to go from strength to strength and is poised for rapid growth in the years to come.”
Incorporated in 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, and notebooks. In the last one year, the share price of IFL has gained over 300%, from around Rs 2.9 to Rs 12.5 per share, and also touched a 52-week high of Rs 16 per share -- resulting in wealth generation for the shareholders.
The company, in its board meeting held on April 24, 2023, allotted 4.54 crore equity shares of Re 1 each as fully paid bonus shares to the existing shareholders. It declared a bonus issue in a 1:4 ratio (one fully paid equity share for every four equity shares held) and a 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 Re 1 each) in order to enhance liquidity.
The company has declared a bonus issue in a 1:4 ratio (one fully paid equity share for every four equity shares held) and a 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 Re 1 each) in order to enhance liquidity.
In the last one year, the share price of IFL has gained over 300% from around Rs 2.9 to Rs 12.5 per share and also touched a 52-week high of Rs 16 per share -- resulting in wealth generation for its shareholders.
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