IFL Enterprises Ltd. won USD 8.16 million (Rs. 67 crore) in export orders
Ahmedabad : IFL Enterprises Ltd., headquartered in Ahmedabad, is the industry leader in selling a wide variety of paper and stationery products, and the firm has recently obtained export orders from...
Ahmedabad : IFL Enterprises Ltd., headquartered in Ahmedabad, is the industry leader in selling a wide variety of paper and stationery products, and the firm has recently obtained export orders from Frereana Holding Ltd. of Kenya. The purchase is for the distribution of educational supplies in Kenya, including notebooks, text books, bond paper, and copy paper. The order’s total FOB value is estimated at USD 8.16 million (about Rs. 67 crores), and it has a one-year deadline.
The corporation has concluded its due diligence with the international associate. The projected export shipments will begin in June 2023 and last through March 2024. According to the conditions of the agreement, 80% of the order must be paid in advance, and the remaining 20% must be paid upon order delivery. IFL Enterprises Ltd has been granted the contract to provide writing books, textbooks, bond paper, and copier paper by Frereana Holding Ltd, as indicated in a letter of confirmation dated 21 April 2023.
Mr. Dolar Shah, Managing Director & CFO of IFL Enterprises Ltd, commented on the news, saying, “We are happy that our company has won a prestigious order worth USD 8.16 million which is to be executed in the FY23-24.” The conditions of this order call for an upfront payment of 80%. Beginning in June of 2023, shipments are anticipated. The company’s goal is to maintain high standards of service while executing its expansion plan, creating exponential value for all stakeholders. The company is going from strength to strength, and it has great potential for future expansion.
Incorporated in the year 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, Notebooks, etc.
“Thought leadership and deep insight of the management allows the company to discover new opportunities and perform to its true potential. The company continues to deliver value and commitment based on the highest professional standards and aims to leverage the growth opportunities in the economy,” said Mr. Shah.
Order details
| Sr. No | Description | Quantity
(Ton) |
Rate Per Kg | Total F.O.B amount (USD) |
| 1 | 85 cms writing printing paper
– Paper quality 52 gsm – White paper with minimum 80 brightness |
3000 | 96 | 35,25,000 |
| 2 | 90 cms writing printing paper
– Paper quality 58 gsm – White paper with minimum 92 brightness |
2400 | 120 | 35,76,000 |
| 3 | 58.5 X 91.5 Art paper
– Paper quality 100 gsm |
800 | 110 | 10,60,000 |
| 81,61,000 |
The company in its board meeting held on April 24, 2023, has allotted 4.54 crore equity shares of Rs. 1 each as fully paid bonus shares to the existing shareholders of the company. The company had declared bonus issue in a 1:4 ratio (One fully paid equity share for every four equity shares held) and 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 Rs.1 each) in order to enhance the liquidity. It had set April 21st, 2023 as the record date to determine the eligibility of shareholders to receive the benefits of these corporate actions.
