The agenda of Canara's board 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 approvals
Canara Bank on Wednesday said it is planning a split of its equity shares 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, according to 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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