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HDFC Bank for another stock split

HDFC Bank’s board of directors is expected to consider a stock split when it meets on 22 May. The bank announced in a regulatory filing that the board would consider the proposal for sub-division of the bank’s equity shares from one equity share of face value of Rs 2 each to 2 equity shares of face value of Re 1 each. The bank had last split its shares in 2011 in a ratio of 1:5, or one share of Rs 10 split into 5 shares of Rs 2 each. HDFC Bank has the highest market valuation among banks at Rs 6,34,499.28 crore. The bank has an equity capital of Rs 545 crore with 220 crore fully paid shares.

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