The board of Tiger Logistics (India) has approved a proposal to split the shares of the company in the ratio of 1:10, a regulatory filing said on Tuesday.
The current face value of each share is Rs 10 and after the split, the new value of will be Rs 1.
The board has approved "the proposal of sub-division/split of company's 1 equity share having a face value of Rs 10 each into 10 shares having face value of Re 1 each. The record date for such sub-division/ split shall be intimated to the stock exchange in due course," Tiger Logistics (India) said in the filing.
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The proposal is subject to shareholders' approval, it said.
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