Mumbai: GMR Infrastructure on Thursday 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 Rs2 each into two equity shares of Re1 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 31 July. 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 Rs144.10, up 1.91% in the afternoon trade on the BSE.