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Multibagger stock set to announce bonus, dividend and buyback

The increasing demand for eco-friendly packaging solutions has further driven the growth of the MSME sector and the industry as a whole.

Edited By: Nitin Kumar @Niitz1 New Delhi Published on: October 25, 2023 7:35 IST
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Image Source : PEXELS Close-up photo of monitor showing graph of shares.

Bonus, dividend, and buyback are three kinds of corporate events that listed companies on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) announce in a bid to reward their investors. The year 2023 has seen a flurry of such announcements. IFL Enterprises which is a multibagger stock, is all set to announce a triple bonanza for its investors. 

The BSE-listed stock was listed on the BSE in 2017. It has delivered since then delivered a return of more than 1,000 per cent, according to exchange data. The multibagger SME stock has already issued bonus shares on two occasions and also sub-divided the nominal value of equity shares once since.

According to an exchange filing, the multibagger is again set to announce bonus distribution. Apart from this, it will also declare the distribution of dividends and buy back shares from existing investors at a premium. The filing said that the "board is scheduled to meet on November 1 (Wednesday) to transact the business items."

Ahead of the announcement, the promoter/promoter group has said that it could acquire an additional stake through open market transactions.

“The promoter intends to acquire a stake ranging from 2 per cent to 9 per cent of the total equity share of the company in a span of 12 to 18 months. These acquisitions will be executed in compliance with all regulatory requirements and within the framework set forth by the SEBI and other relevant regulatory bodies,” according to a filing on the Bombay Stock Exchange (BSE).

The small-cap stock deals in the paper industry. Notably, the government has launched several initiatives including the establishment of packaging parks and more to spur the growth of the packaging industry. The rising demand for eco-friendly packaging solutions and other related items has also bolstered the growth of the MSMEs and the industry.

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