The Ahmedabad-based firm knowledgeable inventory exchanges that its board will meet on August 1 to think about Distinctive International Managed Providers' proposal to accumulate as much as 12 per cent shareholding by way of the strategic funding route.
“IFL Enterprises has acquired a Letter of Intent (LOI) from the Singapore-based entity, Distinctive International, to accumulate a 12 per cent strategic minority stake within the firm at an indicative reference worth of Rs 2 per share,” IFL mentioned in a press release.
The provide worth represents over 100 per cent premium to present share worth, it added.
“This proposed funding marks a major step in our efforts to strengthen the Firm's capital base, speed up progress plans, and improve shareholder worth,” IFL mentioned.
The funding is meant to be long-term and strategic in nature and the proposed stake can be acquired in full compliance with SEBI, FEMA, and RBI laws, IFL mentioned. Distinctive International Managed Providers has diversified pursuits in wholesale commerce, enterprise consulting, and international ventures.
IFL is engaged within the agri commodity enterprise, together with import, export and buying and selling of agri commodities. Just lately 4 FPIs have acquired complete of 16.08 per cent stake within the firm. It reported income from operations of Rs 120.60 crore in FY25, over 13-fold rise in comparison with Rs 8.24 crore in 2023-24.
