Shares of IRB Infrastructure Developers Limited have delivered over 167 per cent in the last two years. The stock rose per cent to hit a day’s high of Rs 286.90 on BSE on Tuesday.
IRB Infra stock will trade ex-split from February 22, 2023, as the company had announced February 22, 2023, as the record date for the sub-division of its equity shares in the 10:1 ratio. The company announced the stock split in January 2023.
The midcap infra stock hit a 52-week high of Rs 329.30 on December 14, 2022, and a 52-week low of Rs 179.05 on June 20, 2022. It ended at Rs 283.25 on February 20, 2023.
“In terms of Regulation 42 of the SEBI Listing Regulations, we wish to inform you that the Company has fixed Wednesday, February 22, 2023, as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every 1 equity share having face value of Rs 10 each, fully paid-up into 10 (ten) equity shares having face value of Re 1 (Rupee One) each fully paid-up, as approved by the shareholders through Postal Ballot on February 06, 2023,” the company said.
A stock split happens when the shares are divided into two or more as per the split ratio. Also, the face value of the share changes with the stock split.
IRB Infra reported a 95% jump in its net profit at Rs 141.36 crore for the December 2022 quarter as against Rs 72.68 crore in the same quarter the previous year. The company and its Private InvIT Arm, IRB Infrastructure Trust, have collectively reported a 36 per cent increase in the Toll Collection for January 2023 on a year-on-year basis, across all projects managed by them.
It reported January 2023 toll collection at Rs 374.81 Crores as against Rs 276.44 crores in the corresponding month of the year 2022.
IRB Infrastructure Developers is India’s first Multinational Infrastructure player in the Highways segment. It has an asset base of over Rs 60,000 crore in 10 States across the parent company and two InvITs.