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Karur Vysya Bank is going to split company’s stock in a ratio of 1:5 for improving liquidity in market as well making shares affordable to small investors.
The bank had come out with the share split proposal at the end of August.
It said in a regulatory filing that the board of directors at a meeting, approved the proposal for sub-division of existing one equity share of Rs 10 each face value into 5 number of equity shares of Rs 2 each.
The bank further said on the rationale behind the split, it wants “to improve liquidity of the bank’s shares in the stock market as also to make them affordable to the small investors.”
