Description
NSE circular regarding early pay-in procedures for Steelcast Ltd securities due to face value split from Rs 5/- to Rs 1/- per share.
Summary
NSE has issued specific instructions for early pay-in of securities for Steelcast Ltd (STEELCAS) due to a face value split from Rs 5/- per share to Rs 1/- per share. Members must follow prescribed 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/- to Rs 1/- per share for Steelcast Ltd
- Early pay-in must be done in old ISIN (INE124E01020) without conversion adjustment
- Example: For sale of 5 shares, early pay-in should be 1 share in old ISIN
- Block mechanism rules apply as per previous circulars
- Custodians must upload client-wise allocation details based on actual traded quantity
Regulatory Changes
No new regulatory changes, but specific application of existing early pay-in procedures for corporate action scenario.
Compliance Requirements
- Members/custodians must execute early pay-in in old ISIN for specified dates
- Follow block mechanism guidelines from NCL/CMPT/53386 dated Aug 22, 2022
- Upload client-wise early pay-in allocation files (except for block mechanism cases)
- Switch to new ISIN for transactions after record date
- Adhere to SEBI circular on block mechanism in client demat accounts
Important Dates
- Record Date: August 29, 2025
- Ex Date: August 29, 2025
- EPI Date: August 29, 2025 (Settlement 2025165)
- EPI Date: September 1, 2025 (Settlement 2025165 & 2025166)
Impact Assessment
Medium impact on market participants trading STEELCAS securities. Requires operational adjustments for early pay-in procedures during the corporate action period. Incorrect handling could result in settlement issues or margin calculation problems.
Impact Justification
Specific procedural requirements for early pay-in during corporate action affecting one stock