Servotech Power Systems Splits Stock In Ratio Of 5:1

Servotech Power Systems has split its shares into a ratio of 5:1 with effect from February 3, the company's Managing Director Raman Bhatia said on Monday. "The rationale behind the sub-division is to increase the liquidity and expand the shareholders' base. Also, the board has approved rewarding the existing shareholders in the form of dividends. The company would pay its shareholders an interim dividend of Re 0.20 per equity share subject to eligibility," Bhatia said in a statement.

According to the information provided by the company, the NSE-listed entity's equity share of the company of face value of Rs 10 each has been subdivided into 5 equity shares of the face value of Rs 2 each. The shares of the company were trading at Rs 48.55 apiece on NSE, 4.97 per cent up from its previous close.