Big Move At Kotak Mahindra Bank Ahead of 1:5 Stock Split! Ex-Bajaj Finance MD Joins As Whole-Time Director

Kotak Mahindra Bank on Monday has announced the appointment of Anup Kumar Saha as Whole-time Director, subject to regulatory approvals. Till such time, Anup will act as Whole-time Director (Designate) and will be a part of Senior Management from January 12, 2026.

Anup will be in charge of Kotak's consumer banking, marketing, and data analytics departments. This will strengthen Kotak's leadership depth and promote customer-centric transformation, digital innovation, and data-driven strategy.

In order to increase liquidity and affordability for regular investors, Kotak Mahindra Bank is undertaking a 1:5 stock split, with a record date of January 14, 2026. This would split each Rs 5 face value share into five Rs 1 face value shares. This is the bank's first split in 15 years, with the share price adjusting to roughly one-fifth its previous level, making it more accessible.

"The Board of Directors of Kotak Mahindra Bank Limited ("Bank") has, at its meeting held on November 21, 2025, approved Sub-division ("split") of existing equity share of the Bank, as follows, subject to the approval of the shareholders and any regulatory / statutory approvals, as may be required, including the Reserve Bank of India: Sub-division of 1 (One) existing equity share of the Bank having face value of Rs. 5/- (Rupees Five only) each, fully paid-up, into 5 (Five) equity shares of the Bank having face value of Re. 1/- (Rupee One only) each, fully paid-up," said Kotak Mahindra Bank in a stock exchange filing.

"After having received the approval / confirmation of the Reserve Bank of India (RBI) and the shareholders of the Bank, the Bank has fixed Wednesday, January 14, 2026 as the 'Record Date' to determine the shareholders whose equity shares will be so sub-divided," Kotak Mahindra Bank has further informed in a regulatory filing.

Anup most recently held the position of Managing Director at Bajaj Finance, where for more than eight years he was responsible in turning the company into one of the top and most lucrative NBFCs in customer finance in India. He oversaw digital innovation, customer-focused tactics, and corporate change, growing the clientele to 100 million and broadening the range of products offered. Anup previously held top leadership positions with ICICI Bank for 14 years, during which time he had extensive knowledge in consumer and retail banking, data analytics, and digital transformation.

CS Rajan, Chairman of the Board, Kotak Mahindra Bank said, "We are delighted to welcome Anup to Kotak's Board. His leadership in scaling businesses, driving digital transformation and building customer-centric organizations will be invaluable as we continue to strengthen our position in the financial sector."

Ashok Vaswani, MD & CEO, Kotak Mahindra Bank added, "Anup's appointment underscores Kotak's commitment to building a market-leading financial services business and a strong bench of experienced leaders. His extensive understanding of retail finance, data-driven growth and innovation will help us accelerate our strategy and deliver even greater value to our customers."

"I am excited and honored to join Kotak, one of India's most trusted financial services conglomerates. I look forward to working with the leadership team to build on this strong foundation, drive innovation, deepen customer relationships and create value for all stakeholders," said Anup Kumar Saha.

One of India's top diversified and integrated financial services conglomerates, Kotak Mahindra Group was founded in 1985 and offers a broad variety of financial solutions across customer and geographic sectors. The Group can meet all of its customers' financial needs by providing products in the areas of banking and lending, capital markets, asset management, and protection. As of September 30, 2025, the Group had a total balance sheet size of Rs 9.1 trillion and 5,511 branches nationwide.