Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10
The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity.
The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake.
"The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing.
The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...