10:1 Stock Split: This highway infrastructure developer fixes record date

IRB Infra Stock Split Date: Highway infrastructure developer IRB Infrastructure Developers Limited has fixed the record for the sub-division of the company's equity shares. According to an exchange filing by the company, the board had in January approved the sub-division of shares in a ratio of 10:1.

It means that IRB Infra will split its one equity share into 10 equity shares. 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 Re 1.

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 increase to 1000 after the split. 

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

The company has fixed the record date for determining the eligibility of shareholders for receiving the benefit of the split.

IRB Infra share split record date is February 22, the company in a filing on February 6 said.

IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India. Shares of the company finished at Rs 266.50 on NSE on Monday. 

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