On 26-Jul-2017 during the quarter results Yes Bank have announced the stock split in the ratio of 1:5 and subjected to share holders approval.
On Sep 9th 2017 Yes Bank announced the record date as 22-Sep-2017 for determining the eligibility of shareholders, with regards to sub-division of each equity share having face value of Rs 10 fully paid up into 5 equity shares of face value Rs.2 each fully paid up as approved by the shareholders through postal ballot.
Record Date for the stock split is 22-Sep-2017.
Ex-date for the stock split 21-Sep-2017.
For investors who are interested in stock split should buy the yes bank shares before 21-sep-2017 so that they can be eligible for the stock split. Investors will be getting 5 shares for every 1 shares held before 21-sep-2017.
Why stock split are announced by the companies?
Stock split is announced when the stock price have move higher and to bring more affordable for the small investors companies announces stock split. By this stock price gets decreased but the numbers shares are increased. Let’s say yes bank have announced a stock split in the ratio of 1: 5 which means every investors who is holding the shares will get 5 shares for every 1 share and the stock split will be reduced by 5 times. If yes bank stock price 1800 then the stock price on ex-date will be Rs 360.
Yes Bank have moved 7.77% from 26-Sep-2017 ever since the announcement of stock split.
Yes Bank price on 26-Jul-2017 is 1711.95 and on 15th Sep 2017 it is trading at 1845.05 in NSE.