Description
Instructions for early pay-in process for DEVIT securities during face value split from Rs 5 to Rs 2 per share.
Summary
NSE Clearing Limited has issued instructions for early pay-in of securities for Dev Information Technology Limited (DEVIT) during its face value split from Rs 5 per share to Rs 2 per share. Members must follow specific procedures for early pay-in using old ISIN before record date and new ISIN after record date.
Key Points
- Face value split from Rs 5 per share to Rs 2 per share
- Record date and Ex-date: August 21, 2025
- Early pay-in must be done in existing/old ISIN (INE060X01026) without conversion adjustment
- Conversion ratio example: For sale of 5 shares, early pay-in should be 2 shares in old ISIN
- Block mechanism rules apply as per previous circulars
- Client-wise allocation files required for custodians using pool accounts
Regulatory Changes
No new regulatory changes introduced. Circular references existing framework from consolidated circular NCL/CMPT/67751 dated April 29, 2025, and block mechanism circular NCL/CMPT/53386 dated August 22, 2022.
Compliance Requirements
- Members must execute early pay-in in old ISIN for specified settlement dates
- Custodians using pool accounts must upload client-wise allocation details based on actual traded quantity
- Client-wise early pay-in allocation files should not be uploaded when using block mechanism
- Switch to new ISIN for pay-in instructions after record date
- Adhere to SEBI block mechanism requirements for client demat accounts
Important Dates
- Record Date: August 21, 2025
- Ex-Date: August 21, 2025
- EPI Dates: August 21-22, 2025
- Settlement Numbers: 2025160 (Aug 21), 2025160 & 2025161 (Aug 22)
Impact Assessment
Medium impact on DEVIT trading operations during corporate action period. Members and custodians must adjust their settlement processes temporarily. Proper execution of early pay-in procedures is essential to maintain margin exemption benefits and ensure smooth settlement of trades during the face value split transition.
Impact Justification
Affects trading operations for DEVIT during corporate action period with specific settlement procedures