Description
NSE announces face value and paid-up value split for five Kotak Mahindra ETFs effective February 27, 2026, reducing face value from Rs. 10 to Re. 1 per unit.
Summary
NSE’s Listing Department has notified all members that the face value and paid-up value of five ETFs managed by Kotak Mahindra Asset Management Company Limited will be split from Rs. 10 to Re. 1 per unit, effective February 27, 2026. This is a 10:1 face value split across all five ETFs.
Key Points
- Five Kotak Mahindra ETFs are undergoing a face value split from Rs. 10 to Re. 1
- The split applies to both face value and paid-up value simultaneously
- All five ETFs follow the same split ratio (10:1)
- The circular is issued under Download Ref No: NSE/CML/72916 and Circular Ref. No: 0290/2026
- Signed by Ruchi Jaiswal, Manager, on behalf of NSE
Regulatory Changes
The face value and paid-up value of the following ETFs will change effective February 27, 2026:
| Sr. No. | Name of ETF | Symbol | Existing Face Value (Rs.) | New Face Value (Re.) |
|---|---|---|---|---|
| 1 | Kotak Nifty Bank ETF | BANKNIFTY1 | 10 | 1 |
| 2 | Kotak Nifty India Consumption ETF | CONS | 10 | 1 |
| 3 | Kotak Mahindra Mutual Fund - Kotak Silver ETF | SILVER1 | 10 | 1 |
| 4 | Kotak Nifty 50 Value 20 ETF | NV20 | 10 | 1 |
| 5 | Kotak Nifty Midcap 50 ETF | MIDCAP | 10 | 1 |
Compliance Requirements
- All NSE members must update their systems and records to reflect the new face value of Re. 1 per unit for all five ETFs from February 27, 2026
- Trading systems, order management platforms, and back-office software should be updated accordingly
- Members should inform their clients holding positions in these ETFs about the face value change
Important Dates
- Circular Date: February 20, 2026
- Effective Date: February 27, 2026 (face value split takes effect)
Impact Assessment
The 10:1 face value split will reduce the face value per unit from Rs. 10 to Re. 1 for all five ETFs. While the net asset value and total portfolio value of investors remain unaffected, the lower face value may improve affordability and liquidity by enabling smaller lot sizes. Market participants, custodians, depositories, and clearing members need to adjust their systems for the updated face value. The split covers ETFs tracking key benchmarks — Nifty Bank, India Consumption, Silver, Nifty 50 Value 20, and Nifty Midcap 50 — indicating broad impact across equity and commodity ETF segments.
Impact Justification
Face value split affects five actively traded Kotak Mahindra ETFs covering major indices and commodities, impacting pricing and unit calculations for market participants holding or trading these instruments.