ICICI Bank Share Gains on Ex-Split Day

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Shares of the ICICI Bank rose 2 per cent on Thursday after the bank announced that it had subdivided the face value of its equity shares in the ratio of 5:1 that is Rs 2 from Rs 10 face value.

The shares for the first time began trading at a face value of Rs 2 today.

ICICI Bank Share Gains on Ex-Split Day
ICICI Bank: Quotes, News
BSE 298.35BSE Quote4.9 (1.64%)
NSE 298.60NSE Quote4.65 (1.56%)

The bank fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive five equity shares of nominal value of Rs 2 each in lieu of one equity share of nominal value of Rs 10 each of the bank.

Stock split is beneficial for investors as it increases liquidity. Click to know What are the tax implication on stock split. 
Shares of ICICI Bank was seen trading at Rs 361.50, higher by 0.80% on the Bombay Stock Exchange at 12.20 pm IST. It touched an intra-day high of Rs 366 during the trade.


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