Description

NSE Clearing notifies members about early pay-in procedures for GOKULAGRO securities due to face value split from Rs 2/- to Re 1/- per share with record date October 14, 2025.

Summary

NSE Clearing Limited has issued instructions regarding early pay-in of securities for Gokul Agro Resources Limited (GOKULAGRO) in connection with a face value split from Rs 2/- per share to Re 1/- per share. The circular provides specific guidance on using old and new ISINs for early pay-in during the transition period around the record date of October 14, 2025.

Key Points

  • Face value split (sub-division) from Rs 2/- per share to Re 1/- per share
  • Existing/Old ISIN: INE314T01025
  • Record Date and Ex Date: October 14, 2025
  • Members must use old ISIN for early pay-in on October 14-15, 2025 without adjusting for conversion
  • After record date, new ISIN must be used for pay-in/early pay-in instructions
  • Example: For sale of 2 shares, early pay-in should be 1 share in old ISIN on ex-date
  • Client-wise allocation file should not be uploaded when using block mechanism
  • Custodians using pool accounts must upload allocation details based on actual traded quantity

Regulatory Changes

This circular implements procedures under Item 10.18 ‘Early Pay-in of Securities for Margin Exemption’ from the consolidated circular (NCL/CMPT/67751) dated April 29, 2025. Members must adhere to SEBI circular on Block Mechanism in demat accounts as per NCL circular NCL/CMPT/53386 dated August 22, 2022.

Compliance Requirements

For Market Participants/Members:

  • Execute early pay-in instructions in old ISIN (INE314T01025) for settlement numbers 2025196 (October 14) and 2025196 & 2025197 (October 15)
  • Do not adjust for conversion ratio when using old ISIN
  • Switch to new ISIN after record date for all subsequent pay-in instructions
  • Follow block mechanism procedures without uploading client-wise allocation file for early pay-in

For Custodians:

  • If providing early pay-in through pool account, upload client-wise allocation details based on actual traded quantity (post-split quantity)
  • Execute early pay-in in old ISIN on ex-date/record date
  • Transition to new ISIN after record date

Important Dates

  • October 13, 2025: Circular issue date
  • October 14, 2025: Record Date and Ex Date
  • October 14, 2025: Settlement 2025196 - Use old ISIN for early pay-in
  • October 15, 2025: Settlements 2025196 & 2025197 - Use old ISIN for early pay-in on 14th, new ISIN thereafter
  • After October 14, 2025: Use new ISIN for all pay-in/early pay-in instructions

Impact Assessment

Operational Impact: Medium - Members and custodians must implement dual-ISIN handling procedures during the transition period. Failure to use correct ISIN could result in settlement failures and margin implications.

Market Impact: Medium - Affects all trading participants holding or trading GOKULAGRO securities. The face value split doubles the number of shares while halving the face value, requiring careful attention to quantity adjustments.

System Impact: Members’ systems must handle the ISIN transition correctly, with old ISIN used for specific settlement dates and new ISIN used thereafter. Early pay-in margin exemption benefits can only be obtained by following correct procedures.

Contact: For clarifications, contact help desk at 18002660050 (Option 2) or securities_ops@nsccl.co.in

Impact Justification

Affects trading and settlement procedures for GOKULAGRO securities during corporate action period. Members must follow specific ISIN-based early pay-in processes to avoid settlement failures.