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Our Bureau

Hyderabad , Feb. 6

IVRCL Infrastructures and Projects Ltd has informed the stock exchanges that its board of directors, by a circular resolution, has resolved to subdivide every share of Rs 10 each to five shares of Rs 2 each subject to approval of the shareholders at an extraordinary general meeting scheduled for March 3 and necessary other statutory approvals as required.

As a result of the split / subdivision, the authorised share capital of Rs 40-crore would consist of 17.5-crore equity shares of Rs 2 each and 2.5-crore preference shares of Rs 2 each.

Accordingly, the paid-up share capital would also stand subdivided on approval by the shareholders.

The company said the record date for the subdivision of the shares would be announced on approval of the proposal by the shareholders.

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