Infrastructure firm Sadbhav Engineering today said it would seek shareholders' approval for the proposed stock-split.
The company would consider the resolution for sub-division of every Rs 10 share into 10 equity shares of Re 1 each by way of postal ballot, Sadbhav Engineering said in a filing with the Bombay Stock Exchange (BSE).
The Gujarat-based company would also conduct postal ballot for enhancing the borrowing and mortgaging limit to Rs 1,500 crore, it said.
The duly filled postal ballots should reach the scrutiniser till November 13 and the result of the ballot would be announced on November 17.
Shares of the company closed at Rs 1,488, down 2.92 per cent from the previous close on the BSE.
