Description
BSE announces adjustments to F&O contracts in ONGC due to interim dividend of Rs. 6.00 per share, effective November 14, 2025.
Summary
BSE will adjust all Futures and Options contracts in Oil and Natural Gas Corporation Ltd (ONGC) on November 13, 2025, following the company’s announcement of an interim dividend of Rs. 6.00 per equity share. The adjustments will be effective from November 14, 2025 (ex-date), with Rs. 6.00 deducted from option strike prices and futures reference rates.
Key Points
- ONGC (Scrip Code: 500312) has declared interim dividend of Rs. 6.00 per share for FY 2025-26
- Record date for dividend payment: November 14, 2025
- Ex-date: November 14, 2025
- Adjustments will be made on November 13, 2025 (cum-date)
- All existing F&O contracts on ONGC will be adjusted
- Adjustments follow SEBI Master Circular SEBI/HO/MRD/DP/CIR/P/2016/135
Regulatory Changes
No new regulatory changes. This adjustment follows existing framework under SEBI Master Circular dated December 16, 2016 and BSE Exchange Notice 20180710-26 regarding review of corporate action adjustments for stock options.
Compliance Requirements
- Trading members must note the adjusted strike prices and futures base rates effective November 14, 2025
- Members should contact their relationship managers for further clarification if needed
- Systems must reflect adjusted values from ex-date onwards
Important Dates
- November 12, 2025: Circular issued
- November 13, 2025: Adjustment date (cum-date) - adjustments made at end of trading day
- November 14, 2025: Ex-dividend date - adjusted prices effective for trading
- November 14, 2025: Record date for dividend eligibility
Impact Assessment
Options Contracts: All strike prices for ONGC options will be reduced by Rs. 6.00. This mechanical adjustment ensures parity is maintained and prevents arbitrage opportunities arising from the dividend payment.
Futures Contracts: Futures prices will be adjusted downward by Rs. 6.00 using the mark-to-market settlement price from November 13, 2025 as reference. The adjusted rate becomes the base/previous close for trading on November 14, 2025.
Market Impact: Standard corporate action adjustment with no unusual market disruption expected. Traders holding positions through the ex-date should account for the Rs. 6.00 adjustment in their risk management and pricing models. Open interest holders are automatically adjusted without any action required.
Impact Justification
Standard dividend adjustment affecting derivatives contracts with clear predetermined methodology impacting active traders in ONGC F&O contracts