HDFC Bank to mull 2-for-1 stock split on May 22

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HDFC Bank on May 6 said it will consider a proposal for sub-division of shares from one equity share with a face value of Rs 2 each to two shares with a face value of Re 1 each.

The proposal for the stock split will be taken up at the bank's board meeting scheduled on May 22.

Accordingly, and pursuant to the provisions of the Securities and Exchange Board of India (SEBI) regulations, the trading window for dealing in securities of the bank will be closed for designated persons from May 7, 2019, until May 24, 2019 (both days inclusive), the bank said in a release to the exchange.

HDFC Bank had last split its stock in the 1:5 ratio; from one share of Rs 10 into 5 shares of Rs 2 each, at its 17th Annual General Meeting in July 2011.

Shares of HDFC Bank closed 1.7 percent lower at Rs 2,328.4 a share on the BSE on May 6.