GMR Infrastructure said it has received the approval from its board for splitting its stocks in the ratio of 1:2.
The board has accorded approval for sub-division of all its equity shares of Rs 2 each into two equity shares of Re 1 a piece, GMR Infrastructure said in a filing to the Bombay Stock Exchange (BSE).
The sub-division of shares is subject to approval of members of the company, it said.
Further, the infrastructure developer also said that it has adjourned its board meeting for consideration and approval of its financial results for the June quarter to July 31. The meeting was scheduled for Thursday.
However, the company did not state any reason behind the adjournment of the board meeting.
Shares of GMR Infra were trading at Rs 144.10, up 1.91 per cent in the afternoon trade on the BSE.