NSE · Corporate Action · Low
NSE notifies 10:1 face value split for Kotak Nifty PSU Bank ETF
The ETF's face value drops from Rs. 10 to Re. 1 on July 10, increasing units 10x. Total portfolio value unchanged.
What changed
- Face value of Kotak Nifty PSU Bank ETF reduced from Rs. 10 to Re. 1 (10:1 split).
- Number of units increases 10x, per-unit NAV drops proportionally; total value unchanged.
- Effective July 10, 2026; brokers must update systems.
The read
The standard 10:1 face value split for Kotak Nifty PSU Bank ETF is a mechanical adjustment. Every ₹10 unit becomes 10 units of ₹1 face value each. The total portfolio value stays identical. What changes is the entry price for retail buyers: the ₹1 face value translates to a lower per-unit market price, making the ETF more accessible. Liquidity should improve as the float effectively multiplies by 10. There is no impact on the underlying PSU bank holdings or the fund's net asset value. The split takes effect July 10. Brokers have until then to update their systems.
Kotak Nifty PSU Bank ETFPSUBANKRs. 10 to Re. 1
Primary source: official circular (PDF)