Description

BSE announces adjustments to F&O contracts of Bharat Petroleum Corporation Ltd due to interim dividend of Rs. 7.50 per share, with ex-date November 07, 2025.

Summary

BSE announces mandatory adjustments to all Futures and Options contracts of Bharat Petroleum Corporation Ltd (BPCL) due to an interim dividend of Rs. 7.50 per equity share. The adjustments will be made on November 06, 2025, with the ex-date being November 07, 2025. All strike prices for options contracts will be reduced by Rs. 7.50, and futures contracts will be adjusted using the reference rate less dividend amount.

Key Points

  • Company: Bharat Petroleum Corporation Ltd (Derivative Asset Code: BPCL, Equity Scrip Code: 500547)
  • Interim dividend: Rs. 7.50 per equity share for FY 2025-26
  • Record Date: November 07, 2025
  • Ex-Date: November 07, 2025
  • Adjustment Date: November 06, 2025
  • Full dividend value of Rs. 7.50 will be deducted from strike prices and futures pricing
  • Circular issued in pursuance of Exchange notice 20180710-26 and SEBI Master Circular SEBI/HO/MRD/DP/CIR/P/2016/135

Regulatory Changes

No new regulatory changes. This circular implements existing SEBI guidelines on corporate action adjustments for derivative contracts as per SEBI Master Circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016.

Compliance Requirements

For Trading Members:

  • Note the adjustments to all BPCL F&O contracts effective November 07, 2025
  • Inform clients about the strike price and futures price adjustments
  • Contact relationship managers for further details if needed
  • Update trading systems to reflect adjusted prices

Important Dates

  • November 06, 2025: Adjustment date - BSE will make necessary adjustments to all F&O contracts
  • November 07, 2025: Ex-date - Adjusted strike prices and futures base rates become effective for trading
  • November 07, 2025: Record Date for interim dividend

Impact Assessment

Options Contracts Impact:

  • All strike prices generated at end of November 06, 2025 will be reduced by Rs. 7.50
  • Adjusted strike prices will be available for trading from November 07, 2025
  • Affects all open option positions in BPCL across all expiries

Futures Contracts Impact:

  • Adjusted futures price = Daily mark-to-market settlement price on November 06, 2025 minus Rs. 7.50
  • Adjusted rate serves as base rate/previous close for trading on November 07, 2025
  • Applies to all futures contract months

Market Impact:

  • High impact on all traders holding BPCL derivative positions
  • Automatic adjustments prevent arbitrage opportunities arising from dividend payment
  • Position valuations will reflect the dividend adjustment

Impact Justification

Mandatory adjustments to all F&O contracts in BPCL affecting strike prices and futures pricing, impacting all derivatives traders holding positions.