HCL Info to split stock in 1:5 ratio

HCL Infosystems is to sub-divide eight crore equity shares in the ratio 1:5 and issue them to its employees.

According to a HCL Infosystems release issued to the BSE, the company, through postal ballot approval from the shareholders, will split paid-up capital from the existing Rs 10 each to Rs 2 each (1:5). The equity shares of the company will increase from 8 crore to 40 crore equity shares.

The company will also make alteration in the capital clause of the memorandum of association of the company, it said.

It will also issue equity shares to its employees and those of its subsidiaries under the employees stock option scheme, 2005, it added.