Multibagger IPO: IFL Enterprises Continues to Soar Amidst Market Volatility

Multibagger IPO: IFL Enterprises Continues to Soar Amidst Market Volatility

VoM News Desk | October 9, 2023 | 07:08 PM IST | Breaking News | Follow on Google News

Multibagger IPO: IFL Enterprises Continues to Soar Amidst Market Volatility

Multibagger IPO: IFL Enterprises Continues to Soar Amidst Market Volatility

Despite prevailing weakness in stock market sentiments, IFL Enterprises’ share price has been on an impressive uptrend since the early morning session. The small-cap stock opened the day with an upside gap, surging to an intraday high of ₹16 per share on BSE, marking an impressive 11% gain within just a few hours of the stock market’s opening bell. Notably, it came tantalizingly close to its all-time high of ₹18.99 per share. This isn’t the first time that this BSE SME stock has outperformed key benchmark indices; it has consistently delivered stellar returns to its shareholders since its listing on the BSE SME exchange in March 2017.

IFL Enterprises IPO Success Story

The history of IFL Enterprises shares tells a compelling story. The SME stock made its debut in the primary market in March 2017 at a fixed price of ₹20 per share. Although it listed at a discounted price of ₹19.80 apiece on the BSE SME exchange, those who held their conviction and remained invested in the scrip despite the initial discount have reaped substantial rewards. Since its listing, the stock has not only declared bonus shares twice but has also undergone a stock split.

Bonus Share and Stock Split History

After its listing on the BSE SME exchange, this small-cap stock issued bonus shares on two occasions. It first traded ex-bonus on September 21, 2020, for the issuance of bonus shares in a 1:1 ratio. Subsequently, it declared bonus shares again, this time in a 1:4 ratio, with the stock trading ex-bonus on April 21, 2023.

Furthermore, the stock experienced a 1:10 stock subdivision through a stock split on April 21, 2023. Consequently, an investor who initially held 6,000 shares after the IPO saw their shareholding grow to a remarkable 1,50,000 shares following these bonus shares and stock split events.

Transforming ₹1.20 Lakh into ₹21.93 Lakh

Considering that the IPO was priced at ₹20 per share, and one lot comprised 6,000 company shares, the initial investment for an allottee would have been a minimum of ₹1.20 lakh (₹20 x 6,000). Presently, IFL Enterprises’ share price stands at ₹14.62 apiece. Therefore, if an investor had remained invested in this SME stock since its primary market launch, their ₹1.20 lakh investment would have surged to an impressive ₹21.93 lakh today (₹14.62 x ₹1,50,000).

IFL Enterprises: Seizing Growth Opportunities

In recent news, the small-cap company announced a substantial order acquisition valued at a remarkable ₹73 crore from an international client. This significant milestone underscores IFL Enterprises’ unwavering commitment to delivering top-notch products and services. Additionally, the company has revealed that it has secured orders worth ₹600 crore over the next 18 months, further enhancing its growth prospects.

VoM News Desk

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