  The electronic structure of Cr$_{1/3}$NbSe$_2$ is studied via optical
spectroscopy. We observe two low-energy interband transitions in the
paramagnetic phase, which split into four peaks as the compound enters the
ferromagnetic state. The band structure calculation indicates the four peaks
are interband transitions to the spin up Cr e$_g$ states. We show that the peak
splitting below the Curie temperature is \emph{not} due to the exchange
splitting of spin up and down bands, but directly reflects a band broadening
effect in Cr-derived states upon the spontaneous ferromagnetic ordering.
