New Delhi: Private sector lender Kotak Mahindra Bank on Friday said its board has approved a sub-division (stock split) of equity shares in a 1:5 ratio to improve liquidity and affordability. The board, on the occasion of the bank’s 40th foundation day, has approved the sub-division of one existing equity share of the bank having a face value of Rs 5 each, into equity shares having a face value of Rs 1 each, fully paid-up, Kotak Mahindra Bank said in a regulatory filing.

This move aims to make Kotak’s equity shares more affordable and enhance liquidity, thereby encouraging wider market participation, particularly among retail investors, it added. The stock split is subject to regulatory and statutory approvals, it said. Commenting on the board decision, the bank’s part-time chairman CS R

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