Description

Update on adjustment factor and revised market lot for Adani Enterprises Ltd derivatives contracts following rights issue, with adjustment factor of 0.969485 and revised market lot of 309.

Summary

BSE has issued an update to notice 20251113-65 regarding the adjustment of Futures and Options contracts for Adani Enterprises Ltd (scrip code 512599, derivative asset code ADEL) following a rights issue. The adjustment factor is set at 0.969485 and the market lot has been revised to 309. Additional information including revised future prices and strike prices will be available in the contract master file on the BSE extranet.

Key Points

  • This is an update to the previous notice 20251113-65 dated November 13, 2025
  • Scrip Code: 512599
  • Scrip Name: Adani Enterprises Ltd
  • Derivative Asset Code: ADEL
  • Adjustment Factor: 0.969485
  • Revised Market Lot: 309
  • Revised future prices and strike prices available in contract master file on extranet

Regulatory Changes

No new regulatory changes introduced. This circular implements standard F&O contract adjustment procedures due to corporate action (rights issue).

Compliance Requirements

  • Trading members must note the revised adjustment factor of 0.969485
  • Trading members must note the revised market lot of 309 units
  • Trading members should refer to the contract master file on BSE extranet for complete details on revised future prices and strike prices
  • All derivative positions and strategies must account for the adjusted contract specifications

Important Dates

  • Notice Date: November 14, 2025
  • Previous Notice Reference: November 13, 2025 (Notice No. 20251113-65)

Impact Assessment

Market Impact: High - All existing Adani Enterprises Ltd futures and options positions will be adjusted by the factor 0.969485, which will affect position values, margins, and settlement calculations. The reduction in market lot from the previous size to 309 units will impact trading strategies and position sizing.

Operational Impact: Trading members holding open positions in ADEL derivatives must adjust their risk management systems, margin calculations, and position monitoring to reflect the new contract specifications. The adjustment factor of 0.969485 (approximately 3% dilution) reflects the impact of the rights issue on the stock’s theoretical value.

Impact Justification

Updates critical trading parameters for F&O contracts of a major stock following rights issue, directly affecting all derivative positions and trading strategies