Date:08/12/2007 URL: http://www.thehindubusinessline.com/2007/12/08/stories/2007120850630300.htm

Back GVK Power to consider stock split

Our Bureau

Hyderabad, Dec. 7 GVK Power & Infrastructure Ltd (GVK PIL) has proposed to split the face value of its equity shares from Rs 10 per share to Re 1 per share.

The shares of the company are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).According to a company statement, with the market price of the company’s scrip trading at an all-time high and to encourage active participation of the retail investors, it is proposed to sub divide the face value of each share of the company from Rs 10 per share to Re 1 per share.

As a result, Clause V in the Memorandum of Association of the Company relating to equity share capital will be amended to reflect the change in face value of equity shares.

Major benefits that could be derived out of this sub division of shares are improved liquidity and good participation of retail investors. The company shares ended the day at Rs 845.20 on the BSE, against the previous Rs 840.90.