Description
BSE announces adjustments to HDFC Bank F&O contracts due to 1:1 bonus issue with record date August 27, 2025.
Summary
BSE announces mandatory adjustments to all HDFC Bank Ltd Futures and Options contracts following the company’s announcement of a 1:1 bonus issue. The adjustments will be implemented on August 25, 2025 (end of day) with ex-date August 26, 2025.
Key Points
- HDFC Bank Ltd (Scrip Code: 500180, Derivatives Asset Code: HDBK) declared 1:1 bonus issue
- Record date: August 27, 2025
- Adjustment factor: 2.0 [(1+1)/1]
- All existing F&O contracts will be adjusted automatically
- Market lot doubles from 550 to 1,100 shares
Regulatory Changes
Adjustments made in compliance with SEBI guidelines for corporate actions affecting derivatives:
- Strike prices divided by adjustment factor (2)
- Market lot multiplied by adjustment factor (2)
- Positions multiplied by adjustment factor (2)
- Futures prices divided by adjustment factor (2) and rounded to nearest tick size
Compliance Requirements
- Exchange will automatically implement all adjustments
- Trading members should contact designated Relationship Managers for clarifications
- No action required from traders - adjustments are mandatory and automatic
Important Dates
- August 25, 2025: Adjustment implementation (end of day)
- August 26, 2025: Ex-date for bonus issue
- August 27, 2025: Record date for bonus issue
Impact Assessment
High impact on HDFC Bank derivatives trading:
- All existing positions will be adjusted automatically
- Strike prices will be halved
- Market lot size doubles to 1,100 shares
- Contract values and margin requirements will change
- Price movements and volatility calculations affected by adjustment factor
Impact Justification
Major adjustment to F&O contracts of large bank stock affecting all positions and pricing