The Hindu Business Line : KPIT Cummins to consider stock split

The details
The company's share capital currently is approximately 5 per cent of its reserves and surplus.
Simultaneously with the 1:1 bonus issue, the company will split the par value of shares from Rs 5 per share to Rs 2 per share.

Pune , Nov. 4

IT consulting company KPIT Cummins Infosystems Ltd has announced that its board of directors will meet on November 8, to consider bonus shares and stock split.

After considering the proposal of issuing 1:1 bonus shares and simultaneous stock split from Rs 5 per share to Rs 2 per share, the board will make a suitable recommendation for the approval at a shareholders meeting to be held subsequently.

The company's share capital currently is approximately 5 per cent of its reserves and surplus.

The company currently has 14,892,797 shares outstanding.

Following the bonus issue and the stock split, the number of shares will become 74,463,985. Record date for the bonus issue and stock split will be announced following the shareholders meeting.

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