Canara Bank's board will meet on February 26 to consider a stock split, aiming to increase liquidity. The decision is subject to RBI approval.
New Delhi, Feb 7 (PTI) Canara Bank on Wednesday said it is planning split of the equity shares of the state-owned bank to boost the stock's liquidity.
The decision in this regard will be taken by the bank's Board of Directors in a meeting, which is scheduled on February 26, Canara Bank said in a regulatory filing.
The meeting's agenda is "to seek in principle approval from the board of directors for sub-division/split of the equity shares of the bank, subject to prior approval of Reserve Bank of India (RBI) and other statutory/regulatory/Government of India approvals, as may be required," it said.
Shares of the bank were trading 4.16 per cent higher at Rs 542.95 per unit on the BSE.
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