The board of directors of Torrent Pharmaceuticals, which met today, approved a proposal to split the face value of equity shares of the company from Rs 10 to Rs 5. According to a release issued by Torrent to the BSE today, the board also approved a proposal to issue bonus shares in the ratio of 1:1 i.e one bonue share for every share held on a post-split basis."As a result of the decisions, equity shareholders will get four equity shares of Rs 5 each for every share of Rs 10 held," the release added.The company has convened an EGM on January 25, 2006 to obtain shareholder approval for the proposals, the release added.
