GVK Power to split its equity share value

GVK Power & Infrastructure Limited (GVK PIL) has proposed to split the face value of its equity shares from Rs 10 per share to Re 1 each.

Accordingly, the shareholders will be allotted 10 shares for each share held.

The current market price of the company's scrip is at around Rs 867 per share. The major benefits that could be derived out of this subdivision of shares are improved liquidity and good participation of retail investors, the company stated in a press release.

So far, GVK PIL has invested over Rs 5,000 crore in infrastructure projects and has on hand projects worth over Rs 12,000 crore. The equity shares of the company are listed on the NSE and BSE.