ICICI Bank: Dec 5 is RD for stock split

ICICI Bank has fixed December 5 as record date for its proposed stock split. The bank has proposed to reduce the face value its shares to ₹2 from ₹10 now. The bank also said that each American Depositary Share (ADS) of ICICI Bank will continue to represent two underlying equity shares as at present. The number of ADSs held by an American Depositary Receipt holder would consequently increase in proportion to the increase in number of equity shares, it added. The stock of ICICI Bank closed at ₹1,734 on the BSE, an increase of 2.6 per cent over the previous day’s close.