IRB Infra Stock Split: Check ratio and record date | IRB Infra Share Price NSE

IRB Infra Stock Split: Highway infrastructure developer IRB Infrastructure Developers Limited has said that its board has approved the proposal for split of shares. As per a regulatory filing, the company will split its shares in a ratio of 10:1.

The current face value of each share is Rs 10. Once the corporation action comes into effect, the face value of each share will be Rs 1. It means that IRB Infra will issue 10 shares for every one share with a face value of Rs 10.

For example, if an investor holds 100 shares of IRB Infra of face value Rs 10 each, then the total quantity of shares in his/her Demat account will be increased to 1000 after the split. 

The decision to split the shares was taken at the board meeting held on Wednesday, January 4.

"The board considered the proposal for sub-division of 1 equity share of the Company having a face value of Rs 10 each into 10 equity shares having face value of Rs 1 each, subject to regulatory/statutory approvals," the company said.

IRB Infra Share Split Record Date

IRB Infra said that the record date will be intimated in due course.

The rationale behind the split is to enhance the liquidity in the market, to widen the shareholder base and to make the shares more affordable to small investors.

"With the mindset of further rewarding and accommodating small shareholders, the company thought it is necessary to stock split," Virendra D Mhaiskar, chairman and MD, said.

IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India. Shares of the company finished at Rs 318 on NSE on Wednesday. The stock has yielded more than 10 per cent in the past 5 sessions and 63 per cent in 6 months.

IRB has an asset base of over Rs 60,000 crores in 10 states. The company has a strong track record of constructing, tolling, operating and maintaining around 15,500 lane kms pan India and has the ability to construct over 500 kms in a year. It has approximately 20 per cent share in the prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in the country.

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