State-run NBCC today said its board has approved splitting of company's equity share of face value of Rs 10 each into five shares of Rs 2 face value each with a view to making shares more affordable as well as increasing market liquidity.
The company was listed on stock exchanges in April 2012 with a total market capitalisation of approximately Rs 1,270 crore which at present is around Rs 11,194 crore.
There will be no change in the authorised and paid up capital of the company post this shares split.
"One equity share of face value of Rs 10 each will be split into five equity shares of face value Rs 2 each," National Building Construction Corporation said in a regulatory filing.
The company said the step will improve its market liquidity and makes its shares more affordable.
Post split, the number of company's paid up shares will increase to 60 crore from 12 crore at present.
Shares of the company today closed at Rs 932.90 a piece on BSE today.
NBCC, a Navratna organisation has broadly three areas of operations -- project management consultancy (PMC), real estate development and EPC contracting.
