Agri commodity trader IFL Enterprises on Tuesday said Singapore-based Unique Global Managed Services has offered to buy up to 12 per cent stake in the company.
The Ahmedabad-based company informed stock exchanges that its board will meet on August 1 to consider Unique Global Managed Services’ proposal to acquire up to 12 per cent shareholding through the strategic investment route.
Proposed deal at over 100% premium
The proposed strategic investment is pegged at an indicative reference price of Rs 2 per share — more than double the company’s current market price. “IFL Enterprises has received a Letter of Intent (LOI) from the Singapore-based entity, Unique Global, to acquire a 12 per cent strategic minority stake in the company at an indicative reference price of Rs 2 per share,” IFL said in a statement.
The offer price represents over 100 per cent premium to current share price, it added.
“This proposed investment marks a significant step in our efforts to strengthen the company’s capital base, accelerate growth plans, and enhance shareholder value,” IFL said. The company added that the investment will be long-term and strategic in nature.
The investment is intended to be long-term and strategic in nature and the proposed stake will be acquired in full compliance with SEBI, FEMA, and RBI regulations, IFL said.
Investor interest gains momentum
Unique Global Managed Services has diversified interests in wholesale trade, business consulting, and global ventures.
IFL is engaged in the agri commodity business, including import, export and trading of agri commodities. Recently four FPIs have acquired total of 16.08 per cent stake in the company. It reported revenue from operations of Rs 120.60 crore in FY25, over 13-fold rise compared to Rs 8.24 crore in 2023-24.
The company has seen rising institutional interest. Four foreign portfolio investors (FPIs) have collectively acquired a 16.08% stake in IFL Enterprises in recent months, as per the company’s June 2024 shareholding pattern.