Kotak Mahindra Bank announces 1st stock split in 15 years
Kotak Mahindra Bank on Friday announced that its board has approved a stock split. Under the proposed move, one existing equity share with a face value of ₹5, fully paid-up, will be split into equity shares having a face value of ₹1/each, fully paid-up. The bank last carried out a stock split in 2010 in a 1:2 ratio.