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 Futures and Options contracts for HDFC Bank Ltd (scrip code 500180) following the company’s 1:1 bonus issue announcement. The adjustments will be implemented on August 25, 2025, with ex-date of August 26, 2025.
Key Points
- HDFC Bank declared 1:1 bonus issue (1 bonus share for every 1 existing share)
- Record date: August 27, 2025
- Adjustment factor: 2.0 [(1+1)/1]
- All F&O contracts on HDFC Bank (derivatives asset code: HDBK) will be adjusted
- Adjustments effective end of day August 25, 2025
Regulatory Changes
Adjustments implemented in compliance with SEBI guidelines for F&O contract modifications due to corporate actions:
- Strike Price: Divided by adjustment factor (2)
- Market Lot: Multiplied by adjustment factor (2) - from 550 to 1,100 shares
- Position Size: Multiplied by adjustment factor (2)
- Futures Price: Divided by adjustment factor (2), rounded to nearest tick size
Compliance Requirements
- Trading members must account for adjusted contract specifications
- All existing positions will be automatically adjusted by the exchange
- Members should contact designated Relationship Managers for clarifications
Important Dates
- August 25, 2025: Contract adjustments implemented (end of day)
- August 26, 2025: Ex-date for bonus issue
- August 27, 2025: Record date for bonus entitlement
Impact Assessment
High impact on derivatives market participants holding HDFC Bank F&O positions. The 2x adjustment factor significantly changes contract specifications, requiring traders to recalibrate strategies and risk management parameters. Market lot doubling from 550 to 1,100 shares increases minimum transaction value.
Impact Justification
Major adjustment to F&O contracts of large-cap stock affects all derivative positions