IRB Infra fixes record date for stock split Stock soars 4%

IRB Infrastructure Developers Limited stock surged near 4% during the afternoon market session on Tuesday post the announcement of record date for sub-division of its equity shares.

As per the regulatory filing, the Company has fixed Wednesday, February 22, 2023 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders in the ratio of 1:10, the company said.

Accordingly, the company's each equity share having face value of Rs 10 each will be divided into fully paid-up 10 equity shares having face value of Re 1 each fully paid-up, the company further explained.

Following the announcement, shares of IRB Infrastructure climbed 3.91% at Rs278 per share on the BSE, at around 1:30 PM.