IFL Enterprises, a small-cap stock, has announced a board meeting on November 1, 2023, to discuss several shareholder-friendly initiatives. The company is considering proposals for issuing bonus shares, conducting a share buyback program at ₹17 per share, and declaring an interim dividend for Q2 FY24.
This move is aimed at enhancing shareholder value and optimizing the capital structure. Additionally, the board will explore a joint venture with Charter Paper Pty Ltd, an Australian strategic partner, to support the company's upcoming operations. In response to this news, IFL Enterprises' share price surged by nearly 17% during early trading hours.