Post Stock Split, Shares Of ICICI Bank Hit A New High

Today, India’s largest private sector lender ICICI Bank’s shares have touched a record high of Rs 366.30 intraday. This happened soon after the bank sub-divided its equity shares (stock split) in a ratio of 5:1.

At 12:20 pm, the stock was trading at Rs 361.20, up nearly 2.58% on Bombay Stock Exchange (BSE). The stock touched an intraday high of Rs 366.05 on NSE. At 12:20 pm, it was quoting 361.20, up 2.38%.

On Nov 21, 2014, ICICI Bank had fixed record date as Dec 5, 2014. “The bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the lender,” as per ICICI Bank’s filing to BSE.

The bank also informed BSE that, “…each American Depositary Share (ADS) of ICICI Bank will continue to represent two underlying equity shares as at present. The number of ADSs held by an American Depositary Receipt holder would consequently increase in proportion to the increase in number of equity shares.”
(Image: The Economic Times)