Kotak Mahindra Bank Announces Stock Split on 40th Anniversary

Kotak Mahindra Bank Ltd. has announced a stock split in celebration of its 40th Foundation Day. The Board of Directors has approved the sub-division of each existing equity share with a face value of ₹5 into five equity shares with a face value of ₹1 each. This decision is contingent upon receiving the necessary regulatory and statutory approvals.

The stock split is intended to make the bank’s equity shares more accessible and to increase liquidity in the market. The Board has also approved an amendment to the Capital Clause of the Memorandum of Association to reflect the revised share structure post-split. These changes are subject to the consent of the bank’s members, the Reserve Bank of India (RBI), and other applicable regulatory authorities.

The stock split is part of Kotak Mahindra Bank’s strategy to encourage wider market participation, particularly among retail investors. The bank aims to enhance the affordability of its shares, thereby facilitating increased investor engagement. The decision aligns with the bank’s commitment to creating long-term value for its shareholders.

The implementation of the stock split is expected to be completed within two months from receiving all necessary clearances. The bank will provide further updates, including regulatory developments, on its investor relations website. Stakeholders are advised to monitor the website for the latest information.

Kotak Mahindra Bank Ltd., established in 1985, is a leading diversified financial services conglomerate in India. The bank offers a wide range of financial solutions across various customer and geographic segments. Its services include banking, lending, capital markets, asset management, and protection, catering to the comprehensive financial needs of its customers. The bank is committed to delivering value to its stakeholders through a focus on customer-centric services.