After the stock-split plan had been announced in July by Yes bank, the scrip today went ex-stock split in the ratio of 5 for 1 shares. This means the stock shall be split i.e 1 equity share of Rs. 10 face value fully paid up into 5 shares of Rs. 2 each.
Since the announcement and approval of split-up plan by the board of the bank, the stock of the company zoomed by 29% in comparison to Sensex which surged by 3.5%.
The record date for determining the eligibility for the split-up has been kept at September
22, 2017. The main objective of the split up plan is to increase the affordability of the stock as well as increase the stock liquidity on the bourses.
In the early hours of the trade today, the scrip reached its high of Rs. 383, an increase of 2%. At 1:26 pm , voluminous trading of 5622242 was reported on the NSE.