Description
Kotak Mahindra Asset Management Company has announced a unit split for KOTAK NIFTY BANK ETF, changing the face value from Rs. 10/- to Re. 1/- per unit, effective February 27, 2026.
Summary
Kotak Mahindra Asset Management Company Limited has announced a unit split for the KOTAK NIFTY BANK ETF (Scrip Code: 590136, ISIN: INF174K01F59). The face value of each unit will be reduced from Rs. 10/- to Re. 1/-, effectively splitting each unit into 10 units. The record date and ex-date are both set for February 27, 2026.
Key Points
- Scheme: KOTAK NIFTY BANK ETF (Scrip Code: 590136)
- Existing ISIN: INF174K01F59
- Record Date: February 27, 2026
- Ex-Date / Settlement: February 27, 2026 (DR-830/2025-2026)
- Split Ratio: Each unit of Rs. 10/- face value will be split to Re. 1/- face value (10:1 split)
- New ISIN will be communicated to the market via a separate notice
- Trading with the new face value will commence from February 27, 2026
Regulatory Changes
The Exchange is notifying trading members of a corporate action (face value change) as mandated under SEBI regulations governing ETF unit splits. A new ISIN will be allotted post-split and communicated separately, requiring market participants to update their systems accordingly.
Compliance Requirements
- Trading Members must update their systems to reflect the new face value of Re. 1/- per unit effective February 27, 2026.
- Members should monitor the subsequent BSE notice for the new ISIN number and update records accordingly.
- Existing positions in the ETF should be adjusted to reflect the 10:1 unit split.
Important Dates
| Event | Date |
|---|---|
| Circular Issued | February 20, 2026 |
| Record Date | February 27, 2026 |
| Ex-Date | February 27, 2026 |
| New Face Value Effective | February 27, 2026 (DR-830/2025-2026) |
| New ISIN Announcement | To be notified separately |
Impact Assessment
The unit split reduces the face value of KOTAK NIFTY BANK ETF from Rs. 10 to Re. 1, resulting in a 10x increase in the number of units held by investors. This typically lowers the per-unit price, improving liquidity and accessibility for retail investors. Trading members and custodians must update their systems before February 27, 2026. The pending new ISIN issuance means a follow-up notice is required before full operational readiness can be confirmed.
Impact Justification
Unit split affects all existing holders and traders of KOTAK NIFTY BANK ETF by changing face value from Rs. 10 to Re. 1, requiring operational adjustments in trading systems; new ISIN will be assigned separately which has additional downstream impact.