Tata Steel to consider split of equity shares on May 3

Mumbai: The board of Tata Steel ltd. will consider a proposal to split its equity shares bearing a face value of Rs10 apiece, the steelmaker said in an exchange filing.

The decision will be subject to regulatory, statutory and shareholder approvals, the company said, without providing details such as the split ratio. Shares of the company last traded at Rs1,319.5 in Mumbai on April 13. Indian markets were shut on Thursday and Friday for local holidays.

Tata Steel board will also consider the company’s quarterly and annual earnings at the meeting along with a dividend payout, it said.