GVK Power plans 1:10 stock split

Hyderabad-based GVK Power & Infrastructure (GVK PIL) has proposed to split the face value of its equity shares from Rs 10 per share to Re 1 each. Accordingly, shareholders will be allotted 10 shares for each share held.

The current market price is around Rs 867 per share.

GVK PIL has invested over Rs 5,000 crore in infrastructure projects, and is working on projects worth over Rs 12,000 crore.