IRB Infrastructure Developers on Wednesday said its board has approved the proposal for alteration in the equity capital by a split of existing shares with a face value of Rs 10 per share into 10 shares with a face value of Re 1 each.
The company in a statement said it will now initiate for shareholders' approval and regulatory nods to bring the share split into effect for trading on stock exchanges.
It has an asset base of over Rs 60,000 crore in 10 states across the parent company and two Infrastructure Investment Trusts (InvITs), IRB infrastructure said.
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