Parag Shilpa Investments said that the board of directors has approved the sub-division of equity shares of face value of Rs 10 to face value of Rs 1 each subject to approval of the shareholders in the forthcoming extraordinary general meeting.

"The extra-ordinary general meeting of the company for the split, subdivision of share has been fixed on Apr. 19, 2014 at the registered office of the company for obtaining approval of the shareholders," the company said.

Shares of the company gained Rs 1.15, or 0.21%, to settle at Rs 543.20. The total volume of shares traded was 138,429 at the BSE (Thursday).