IVRCL board nod for 1:5 stock split

The board of directors of IVRCL Infrastructures & Projects today announced a stock split of 1:5 i.e one share of Rs 10 would be split into five shares of Rs 2 each.

According to a release issued by the company to the BSE today, an EGM has called on March 3 for shareholders' approval for the move.

"Following the sub-division of shares, the authorised share capital of Rs 40 crore shall consist of 17.50 crore equity shares of Rs 2 each and 2.50 crore preference shares of Rs 2 each," the release added.

The stock was up 2% at Rs 1,001 on the BSE at 1200 hrs with a volume of 81,000 shares.