All companies issue shares with a fixed denomination called the face value (or par value) of the share. This face value be indicated on the share certificate. Generally Indian shares has a face value of Rs. 10/-
A face value has no relation with the market value of the share. Market value of the share will always change depending upon the market conditions. But the face value is a fixed value of the share as per the books of the company.
A Face value or par value of the company share always remains the same, irrespective of the market price of that share. Companies have to right to split the face value of the share to Rs. 5, 2 or 1 to bring more volatility to the share.