Shares of Kotak Mahindra Bank Ltd. would be of market interest on Tuesday, Jan. 13, as it marks the last session for investors to buy shares to qualify for the stock split.

Kotak Mahindra Bank Stock Split: Last Day To Buy Shares To Qualify Before Record Date

Kotak Mahindra Bank Stock Split: Last Chance for Investors to Qualify

Investors have one final opportunity to buy shares of Kotak Mahindra Bank Ltd. on Tuesday, January 13, as it marks the last session for investors to purchase shares and qualify for the upcoming stock split.

Key Dates:

Ex-Date: January 14 - Kotak Mahindra Bank shares will be split into five shares of Rs 1 face value from each share with a face value of Rs 5.
Record Date: January 14 - Determines eligible shareholders for the stock split and additional shares post-split.
Stock Split: January 14 - Kotak Mahindra Bank will undergo its third stock split, enhancing affordability and making it more accessible to retail investors.

What is a Stock Split?

A stock split is a corporate action where a company increases the number of outstanding shares by reducing the face value per share, enhancing liquidity and making the stock more accessible to retail investors.

Eligibility Criteria:

Investors must hold shares as of the record date announced by the company to be eligible for the stock split.
India follows the T+1 settlement cycle, requiring investors to purchase the stock at least one trading day before the record date to be eligible.
Purchasing shares on the record date itself won’t qualify, as the ownership won’t be reflected in time during trade.

Recent Development:

Kotak Mahindra Bank has confirmed the appointment of Anup Kumar Saha as Whole-time Director, with effect from January 12. Saha will serve as Designate Whole-time Director and a part of Senior Management until the appointment gets cleared by the regular.