Description
BSE announces adjustments to ONGC derivatives contracts due to Rs. 6.00 per share interim dividend, with ex-date November 14, 2025.
Summary
BSE will adjust all Futures and Options contracts for Oil and Natural Gas Corporation Ltd (ONGC) on November 13, 2025, due to the company’s interim dividend of Rs. 6.00 per equity share for FY 2025-26. The adjustments will be effective from November 14, 2025 (ex-date), with the record date set as November 14, 2025. All strike prices for options contracts will be reduced by Rs. 6.00, and futures contracts will be adjusted by deducting the dividend amount from the reference rate.
Key Points
- ONGC (Scrip Code: 500312) declared interim dividend of Rs. 6.00 per equity share for FY 2025-26
- Record date for dividend payment: November 14, 2025
- Ex-date for dividend: November 14, 2025
- Adjustments will be made on November 13, 2025 (day before ex-date)
- All existing Futures and Options contracts on ONGC will be adjusted
- Options: Rs. 6.00 will be deducted from all strike prices
- Futures: Adjusted price = Reference rate minus Rs. 6.00
- Reference rate will be the daily mark-to-market settlement price on November 13, 2025
Regulatory Changes
This adjustment is made in pursuance of:
- BSE Exchange notice number 20180710-26 regarding Review of Adjustment of corporate actions for stock options
- SEBI Master Circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016
No new regulatory changes are introduced; this is standard procedure for dividend adjustments in derivatives.
Compliance Requirements
- Trading members of Equity Derivatives Segment must note the adjustments
- Members should contact their respective relationship managers for further details
- All positions in ONGC derivatives must be adjusted as per the prescribed methodology
- Systems must reflect adjusted strike prices and futures base rates from November 14, 2025
Important Dates
| Date | Event |
|---|---|
| November 12, 2025 | Circular issued |
| November 13, 2025 | Adjustments made to all F&O contracts (adjustment date) |
| November 14, 2025 | Ex-date for dividend; adjusted contracts available for trading |
| November 14, 2025 | Record date for dividend eligibility |
Impact Assessment
Market Impact:
- All ONGC options strike prices will decrease by Rs. 6.00
- Futures contracts will have a lower base price by Rs. 6.00
- Impacts all traders and investors holding ONGC derivatives positions
- No impact on position values as adjustments maintain contract equivalence
Operational Impact:
- Trading systems must implement adjustments overnight on November 13, 2025
- Risk management systems need to reflect adjusted parameters
- Margin requirements may be recalculated based on new strike prices and futures levels
Position Management:
- Existing positions will be automatically adjusted by the exchange
- No action required from position holders for the adjustment itself
- Traders should verify adjusted positions on November 14, 2025
Impact Justification
Mandatory adjustment affecting all ONGC derivatives positions with immediate effect on strike prices and futures contracts due to substantial Rs. 6.00 dividend