Early Pay-in of Securities for Pavana Industries Limited (PAVNAIND) - Face Value Split

Description

NSE circular regarding early pay-in process for Pavana Industries Limited due to face value split from Rs 10 to Rs 1 per share effective September 1, 2025.

Summary

NSE Clearing Limited has issued instructions for early pay-in of securities for Pavana Industries Limited (PAVNAIND) in connection with a face value split from Rs 10 per share to Rs 1 per share. The circular provides specific guidance on settlement procedures during the corporate action period.

Key Points

• Face value split from Rs 10 to Rs 1 per share for Pavana Industries Limited (PAVNAIND)
• Early pay-in to be executed in existing/old ISIN (INE07S101020) without conversion adjustment
• Special settlement arrangements for specific dates and settlement numbers
• Client-wise allocation requirements for custodians using pool accounts
• Block mechanism compliance required as per SEBI circular

Corporate Action Details

• Security: Pavana Industries Limited (PAVNAIND)
• Existing ISIN: INE07S101020
• Action: Face Value Split (Sub-Division)
• Ratio: From Rs 10/- per share to Rs 1/- per share
• Record Date: September 1, 2025
• Ex Date: September 1, 2025

Settlement Instructions

EPI Dates and Settlement Numbers:

• September 1, 2025: Settlement 2025166 (Old ISIN)
• September 2, 2025: Settlement 2025166 & 2025167 (New ISIN)

Example: For sale quantity of 10 shares, early pay-in should be executed for 1 share in old ISIN.

Compliance Requirements

• Members must execute early pay-in in old ISIN for ex-date/record date
• Adherence to NCL circular NCL/CMPT/53386 dated August 22, 2022 regarding SEBI block mechanism
• Client-wise early pay-in allocation file should not be uploaded when using block mechanism
• Custodians using pool accounts must upload client-wise allocation details based on actual traded quantity
• Pay-in instructions in new ISIN to be executed after record date

Important Dates

• September 1, 2025: Record date and ex-date for face value split
• September 1-2, 2025: Critical settlement period requiring special procedures

Impact Assessment

This circular affects settlement operations for PAVNAIND during the corporate action period. Market participants and custodians must adjust their settlement procedures to ensure proper handling of the face value split while maintaining margin exemption benefits through early pay-in.

Impact Justification

Affects specific security settlement process during corporate action period