Canara Bank’s board has approved a share split in a 1:5 ratio.
Each share will be divided into five shares, reducing the face value from Rs. 10 to Rs. 2 post-split.
The objective of this move, according to Canara Bank, is to enhance share liquidity, make it more accessible to retail investors, and diversify the retail investor base.
The expected timeframe for completing the stock split is 2–3 months.
On Monday, Canara Bank’s share price closed 1.2% lower at Rs. 572.
Despite Monday’s decline, the public sector bank’s stock has risen over 30% year-to-date and boasts a one
Finance
Editorial
Canara Bank Board Approves 1:5 Share Split to Enhance Liquidity and Accessibility
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Last reviewed by Abhishek Sharma on February 26, 2024
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