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 adjustments to all Futures and Options contracts of HDFC Bank Ltd (Scrip Code: 500180, Derivatives Asset Code: HDBK) following the company’s 1:1 bonus issue announcement. The adjustments will be implemented on August 25, 2025, with ex-date being August 26, 2025.
Key Points
- HDFC Bank declared 1:1 bonus issue (1 bonus share for every 1 existing share)
- Record date set for August 27, 2025
- Adjustment factor calculated as 2.0 [(1+1)/1]
- All existing F&O contracts will be adjusted on August 25, 2025
- Ex-date for the bonus issue is August 26, 2025
Regulatory Changes
Adjustments made in compliance with SEBI guidelines for F&O contract modifications during corporate actions:
- Strike prices divided by adjustment factor (2.0)
- Market lot multiplied by adjustment factor (2.0)
- Positions multiplied by adjustment factor (2.0)
- Futures prices divided by adjustment factor (2.0) and rounded to nearest tick
Compliance Requirements
- Trading members must be aware of the contract adjustments
- All existing positions will be automatically adjusted by the exchange
- Members should contact designated Relationship Managers for clarifications
- Updated contract specifications must be followed post-adjustment
Important Dates
- August 25, 2025: Adjustment implementation date (end of day)
- August 26, 2025: Ex-date for bonus issue
- August 27, 2025: Record date for bonus issue eligibility
Impact Assessment
Market Impact: High - affects all existing HDFC Bank F&O positions and will require recalibration of trading strategies. The revised market lot increases from 550 to 1,100 shares, doubling the contract size while halving strike prices. This significantly impacts margin requirements and position sizing for all market participants trading HDFC Bank derivatives.
Impact Justification
Major adjustment to F&O contracts of a large bank stock affecting all existing positions