Description
NSE circular regarding early pay-in procedures for MOS due to face value split from Rs 10 to Rs 2 per share.
Summary
NSE Clearing Limited has issued guidelines for early pay-in of securities for Mos Utility Limited (MOS) due to face value split from Rs 10 per share to Rs 2 per share. The circular provides specific instructions for market participants and custodians on handling early pay-in during the corporate action period.
Key Points
- Face value split from Rs 10 to Rs 2 per share for MOS (ISIN: INE0N7S01010)
- Record date and ex-date: August 8, 2025
- Early pay-in must be done in existing/old ISIN without conversion adjustment
- Conversion ratio: For sale of 10 shares, early pay-in should be 2 shares in old ISIN
- New ISIN to be used after record date
Regulatory Changes
No new regulatory changes introduced. The circular references existing framework under Item 10.18 ‘Early Pay-in of Securities for Margin Exemption’ from consolidated circular dated April 29, 2025.
Compliance Requirements
- Members must execute early pay-in in old ISIN for specified dates and settlement numbers
- Adherence to SEBI circular on Block Mechanism in demat accounts required
- Client-wise early pay-in allocation file should not be uploaded for block mechanism
- Custodians using pool accounts must upload client-wise allocation details based on actual traded quantity
- Switch to new ISIN after record date for all pay-in instructions
Important Dates
- Record Date: August 8, 2025
- Ex-Date: August 8, 2025
- EPI Date: August 8, 2025 (Settlement 2025152)
- EPI Date: August 11, 2025 (Settlements 2025152 & 2025153)
Impact Assessment
Medium impact limited to MOS stock holders and trading members. Requires careful coordination between market participants, custodians, and depositories to ensure proper settlement during corporate action period. Failure to follow procedures could result in settlement issues or margin implications.
Impact Justification
Affects specific stock MOS with clear procedural requirements for market participants