Mumbai, Aug 16 (IANS): Automobile giant Tata Motors Tuesday proposed to split its shares worth Rs.10 each into five shares with the value of Rs.two each.
"The board of Tata Motors has approved Sep 13, 2011 as the record date, for the purpose of sub-division of the ordinary shares and 'A' ordinary shares, both having face value of Rs.10 into five shares having face value of Rs.2 each," the company said in a statement.
According to the company's regulatory filing at the Bombay Stock Exchange (BSE), its annual general meeting (AGM) passed a resolution for sub-division of 70,00,00,000 ordinary shares and 20,00,00,000 'A' ordinary shares into 3,50,00,00,000 ordinary shares and 1,00,00,00,000 'A' ordinary shares both of Rs.2 each.