IRB Infrastructure board approves 10-for-1 stock split

The board of IRB Infrastructure Developers has approved a stock split of 10 for 1. The board of directors of the firm has accepted the proposal for the subdivision of existing equity shares from one equity share with a fully paid face value of Rs 10 into 10 equity shares with a fully paid face value of Re 1, subject to shareholder approval. The purpose of the split is to increase the capital market liquidity, broaden the shareholder base and make the shares more affordable for small investors.