Sugar manufacturer EID Parry today said it will sought shareholders approval for splitting each equity share of Rs 2 of the company into two shares of Re 1 each.
In a filing to Bombay Stock Exchange, the company today said it would seek sharholders nod through postal for resolutions for the purpose of sub division of the equity share of Rs 2 each of the company into two equity share of Rs 1 each.
"The board of directors has appointed R Sridharan & Associates, company Secretaries, as scrutiniser for conducting this postal ballot voting process in a fair and transparent manner," the filing said.
The company's board at its meeting held on October 25, 2010 took the decision of stock split.