ICICI Bank shares rise 3 per cent on fixing record date for stock split

Shares of ICICI Bank rose nearly three per cent on Friday after the bank fixed December 5 as the record date for its proposed stock split.

Scrips of the country's largest private lender ended the day 2.66 per cent higher at Rs 1,734 on the Bombay Stock Exchange (BSE). During the day, it surged 3.13 per cent to Rs 1,742 - its 52-week high.

At the National Stock Exchange (NSE), it gained 2.86 per cent to close at Rs 1,736.20.

In a filing to the BSE on Friday, ICICI Bank said it has fixed record date as December 5, for the purpose of ascertaining the eligible shareholders who would be entitled to receive five equity shares of nominal value of Rs 2 each in lieu of one equity share of nominal value of Rs 10 each.

Further, the bank also informed 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.

Earlier in September this year, ICICI Bank had approved sub-division of one equity share into five with an aim to increase liquidity of scrip.