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Our Bureau

Mumbai , Nov. 30

The board of Jaybharat Textiles and Real Estate Ltd has proposed splitting the face value of its equity shares from Rs 5 to Rs 2 per share.

An extraordinary general meeting (EGM) will be held on December 26 to discuss the proposal. The board has also approved the setting up of real estate projects in Maharashtra, Gujarat, Haryana and Madhya Pradesh.

The company is currently constructing a hypermarket and shopping centre in Vapi at an investment of Rs 250 crore, funded through internal accruals.

"Big Bazaar, McDonald's and Future group (Pantaloon) are some of the companies we have signed up for the mall," said Mr Saurabh Tayal, Chairman, Jaybharat Textiles and Real Estate.

"By the end of this financial year, we will undertake 2-3 real estate projects," said Mr Tayal. Shares of the company rose by 1.99 per cent to close at Rs 192.65 on the BSE.

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