Stock Split: IRB Infrastructure Developers board to meet on this date

Stock Split News: IRB Infrastructure Developers has remained under the spotlight in the recent times and is again in the headlines over the corporate action. The toll collection player is likely to split its equity shares in the coming weeks, the company indicated via a regulatory filing with the exchanges.

The company has announced that its board of directors are scheduled to meet on 4th January, 2023 to consider the proposal of the subdivision of the equity shares. The civil construction's existing paid up equity shares capital has a face value of Rs 10 each, but alteration in the share capital will increase the number of shares of the company, as per an official statement

"...this is to inform that a meeting of the board of directors of the company is scheduled to be held on January 04, 2023, to consider, inter-alia, a proposal for alteration in the share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 10 each, fully paid up," the regulatory filing said.

Incorporated in 1998, IRB Infrastructure Developers Limited, is an Indian highway construction company with its headquarters in Mumbai, Maharashtra, India. It is part of the IRB Group.