Jammu & Kashmir Bank said that the board of the bank have considered and approved the sub-division of one equity share of the bank having a face value of Rs 10 each into ten equity shares of face value Re 1 each.

The sub-division of shares is subject to approval of the shareholders and any other statutory and regulatory approvals, as applicable.

Shares of the company declined Rs 16.25, or 1%, to trade at Rs 1,607.60. The total volume of shares traded was 19,302 at the BSE (1.35 p.m., Thursday).