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Mumbai, Nov. 14 Orient Paper & Industries (OPIL), a G.P. and C.K. Birla group company, has split the face value of the company’s equity shares to Re 1 per share from Rs 10 per share.

Consequent to the split, the post-split paid-up equity share capital of the company will comprise 19,28,84,770 shares of Re 1 each.

“The decision to split the face value of its shares has been taken to improve liquidity of shares and make it easier for retail investors to invest in the shares of the company,” the company said.

Orient Paper, which is engaged in the production of cement, paper and fans, had recently issued 3 shares for every 10 shares held on rights basis at the rate of Rs 360 per share to be paid in two tranches of Rs 180 per share.

Record date for payment of the second tranche has been fixed for December 10.

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