Kpit board okays stock split, bonus issue

The board of directors of Kpit Cummins Infosystems today approved proposals for a bonus issue and stock split.

According to a release issued by Kpit to the BSE today, the company's board approved a bonus issue of equity shares in the ratio of 1:1, ie one free share for every shareholder holding a share each.

The board also okayed a proposal for sub-dividing its each equity share with a face value of Rs 5 each to Rs 2 per equity share, the release added.