The board of Exide Industries has, at its meeting held today, recommended the sub-division of the company's equity shares in the ratio 1:10, i.e. each share of Rs 10 to be split into 10 shares of Re 1 each, according to an official release issued to the BSE today. The split will raise the number of shares of the company by ten times thereby offering better float and liquidity to the shares in the stock market. However, the change in the face value of the shares from Rs 10 to Re 1 will not affect its total share capital of Rs 75 crore, the release said.
