Description

BSE announces adjustments to F&O contracts for Oil and Natural Gas Corporation Ltd due to interim dividend of Rs. 6.00 per share, effective November 14, 2025.

Summary

BSE will adjust all Futures and Options contracts for Oil and Natural Gas Corporation Ltd (ONGC) on November 13, 2025, with adjusted contracts available for trading from November 14, 2025 (ex-date). The adjustments are due to an interim dividend of Rs. 6.00 per equity share with record date November 14, 2025. All strike prices for options will be reduced by Rs. 6.00, and futures prices will be adjusted using reference rate minus Rs. 6.00.

Key Points

  • Derivative Asset Code: ONGC, Equity Scrip Code: 500312
  • Interim dividend amount: Rs. 6.00 per equity share for FY 2025-26
  • Record date: November 14, 2025
  • Ex-date: November 14, 2025 (Friday)
  • Adjustment date: November 13, 2025 (Thursday)
  • Applies to all available Futures and Options contracts on ONGC
  • Based on SEBI Master Circular SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016
  • Reference: Exchange notice 20180710-26 regarding corporate action adjustments

Regulatory Changes

No new regulatory changes. This circular implements existing framework per SEBI Master Circular on corporate action adjustments for derivatives contracts.

Compliance Requirements

For Trading Members:

  • Update systems to reflect adjusted strike prices for all ONGC options contracts
  • Update futures pricing with adjusted base rates for November 14, 2025
  • Ensure trading systems are ready before market opening on November 14, 2025
  • Contact relationship managers for clarifications if needed

Options Adjustments:

  • Full dividend value of Rs. 6.00 deducted from all strike prices
  • Adjustments applied at end of trading on November 13, 2025
  • Adjusted strikes available for trading from November 14, 2025

Futures Adjustments:

  • Adjusted futures price = Reference rate minus Rs. 6.00
  • Reference rate = Daily mark-to-market settlement price on November 13, 2025
  • Adjusted rate serves as base rate/previous close for November 14, 2025 trading

Important Dates

  • November 13, 2025 (Thursday): Adjustments applied at end of day to all F&O contracts
  • November 14, 2025 (Friday): Ex-dividend date; adjusted contracts begin trading; Record date for dividend eligibility

Impact Assessment

Market Impact:

  • High: All outstanding ONGC derivatives contracts affected
  • Strike price adjustments may impact options pricing and trading strategies
  • Futures contract valuations reset with Rs. 6.00 reduction in base price
  • Position holders need to account for adjusted strikes and prices in risk management

Operational Impact:

  • Trading members must ensure system readiness for adjusted contracts
  • Options traders need to adapt to new strike price grid
  • Futures traders must note adjusted reference prices for mark-to-market
  • Potential impact on hedging strategies and arbitrage positions

Trading Continuity:

  • No disruption expected if systems properly updated
  • All contracts remain active with adjusted parameters
  • Normal trading to resume on ex-date with new pricing structure

Impact Justification

Mandatory adjustments to all F&O contracts affecting strike prices and futures rates for actively traded stock with immediate effect