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New Delhi: Electrical goods manufacturerHavells India has undertaken a sub-division of its equityshares of Rs 5 into Rs one each after getting the mandatoryapproval from its board.
Havells board has approved " Sub-division of the nominalvalue of Equity Shares of the Company from face value of Rs.5/- (Rupees Five only) to face value of Re 1/- (Rupee Oneonly) per share," the company informed BSE.
Havells board has also authorised it for “consequentalteration” of the Memorandum of Association of the companyfor the sub-division of equity shares.
[caption id=“attachment_89299” align=“alignleft” width=“380”]  Representational image[/caption]
However, the sub-division would be subject to approvalfrom the shareholders of the Company, Havells said in the
notice.
Havells India scrip were trading at Rs 1,175.15 duringthe afternoon trade, down 0.06 per cent on the BSE.
A USD 1.3 billion company, it manufactures Industrial &Domestic Circuit Protection Switchgear, Cables & Wires,
Motors, Fans, Power Capacitors and CFL Lamps.
It also manufactures luminaries for domestic, commercial& industrial applications, modular switches, water heaters anddomestic appliances.
Havells owns brands as Crabtree, Sylvania, Concord,Luminance and Standard, and has 91 branches spread over 50countries across the globe.
It has 14 manufacturing units in India located atHaridwar, Baddi, Noida, Faridabad, Alwar, Neemrana and six in
Europe, Latin America and Africa.
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