Description

BSE announces adjustments to F&O contracts of CAMS due to 1:5 stock split with record date December 5, 2025. Strike prices will be divided by 5, market lot increased to 750.

Summary

BSE announces mandatory adjustments to Futures and Options contracts of Computer Age Management Services Ltd (CAMS, Scrip Code 543232) following the company’s 1:5 stock split. The record date is December 5, 2025, with adjustments effective end of day December 4, 2025. All strike prices will be divided by adjustment factor of 5, market lot will increase from 150 to 750 shares, and positions will be multiplied by 5.

Key Points

  • Stock split ratio: 1:5 (One equity share of Rs. 10 split into five shares of Rs. 2 each)
  • Adjustment factor: 5 (calculated as 5/1)
  • Record date: December 5, 2025
  • Ex-date: December 5, 2025 (adjustments made end of day December 4, 2025)
  • Derivatives Asset Code: CAMS
  • All available F&O contracts will be adjusted per SEBI guidelines

Regulatory Changes

Adjustments made in compliance with SEBI guidelines for F&O contracts on corporate actions:

Strike Price Adjustment:

  • Old strike price divided by adjustment factor (5)
  • Example revised strikes: 3100→620, 3200→640, 3300→660, 3400→680

Market Lot Adjustment:

  • Old market lot multiplied by adjustment factor (5)
  • Existing lot: 150 shares
  • Revised lot: 750 shares (150 × 5)

Position Adjustment:

  • Old positions multiplied by adjustment factor (5)

Futures Price Adjustment:

  • Old futures price divided by adjustment factor (5)
  • Rounded to nearest tick size

Compliance Requirements

  • Trading members must account for adjusted contract specifications effective December 5, 2025
  • All open positions in CAMS F&O will be automatically adjusted by the exchange
  • Members should contact designated Relationship Managers for clarifications
  • No action required from traders; adjustments are automatic

Important Dates

  • November 24, 2025: Circular announcement date
  • December 4, 2025: End of day adjustments implemented
  • December 5, 2025: Ex-date and record date for stock split

Impact Assessment

Market Impact:

  • All active CAMS F&O contracts will be recalibrated simultaneously
  • Strike price granularity becomes finer (e.g., Rs. 20 intervals instead of Rs. 100)
  • Larger market lot (750 vs 150) increases minimum contract value exposure

Trading Impact:

  • Existing positions automatically adjusted - no manual intervention needed
  • Post-split: lower per-share prices may attract retail participation
  • Options premiums will be proportionally adjusted
  • Margin requirements will be recalculated based on new lot size

Operational Impact:

  • Risk management systems must reflect new contract specifications
  • Position limits remain unchanged in value terms despite numerical changes
  • Trading systems will show adjusted strikes and lot sizes from ex-date

Impact Justification

Mandatory adjustments to all F&O contracts affecting active traders with CAMS positions. Strike prices, lot sizes, and positions will be recalculated on ex-date.