Multibagger stock that has surged 450% in three years declares stock split
IRB Infrastructure Developers on Wednesday said that its board has approved the proposal for alteration in the equity capital by a split of existing shares with a face value of ₹10 per share into 10 shares with a face value of Re 1 each. "The Board considered the proposal for sub-division of 1 equity share of the Company having face value of ₹10/- each into 10 equity shares having face value of Rs1/- each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company," said IRB Infrastructure Developers. "As we approach the auspicious occasion of completing 25 years of incorporation and completion of 15 years as a listed company on Indian bourses, the board has decided to effect this stock split. With the mindset of further rewarding and accommodating small shareholders in the value accretive journey of the company, we thought it necessary to effect the above stock split to have a sizeable participation from this segment of investors in the company’s unfolding growth journey," said Virendra D. Mhaiskar, Chairman & Managing Director.
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