Description
Guidelines for early pay-in process for Rolex Rings Limited due to face value split from Rs 10/- to Re 1/- per share with record date and ex-date on October 17, 2025.
Summary
NSE Clearing Limited has issued guidelines for early pay-in of securities for Rolex Rings Limited (ROLEXRINGS) in connection with a face value split corporate action. The stock will undergo subdivision from Rs 10/- per share to Re 1/- per share, with both record date and ex-date on October 17, 2025. Members and custodians must follow specific procedures for early pay-in using old and new ISINs depending on the settlement date.
Key Points
- Face value split: Rs 10/- per share to Re 1/- per share (1:10 ratio)
- Existing/Old ISIN: INE645S01016
- Record Date and Ex-Date: October 17, 2025
- Early pay-in on October 17, 2025 (Settlement 2025199) must use old/existing ISIN
- Early pay-in on October 20, 2025 (Settlements 2025199 & 2025200) transitions to new ISIN
- For sale of 10 shares, early pay-in should be 1 share in old ISIN before record date
- After record date, use new ISIN for pay-in/early pay-in instructions
- Block mechanism per SEBI circular NCL/CMPT/53386 dated August 22, 2022 must be followed
- Client-wise early pay-in allocation file should NOT be uploaded when using block mechanism
Regulatory Changes
No new regulatory changes introduced. This circular implements existing early pay-in framework (Item 10.18 of consolidated circular NCL/CMPT/67751 dated April 29, 2025) for a specific corporate action.
Compliance Requirements
- Members: Execute early pay-in instructions in old ISIN (INE645S01016) for trades on October 17, 2025, without adjusting for conversion ratio
- Custodians: Upload client-wise early pay-in allocation details based on actual traded quantity (not adjusted quantity) when using pool accounts
- Custodians: Do NOT upload client-wise allocation file when using block mechanism
- All Participants: Adhere to block mechanism requirements per NCL circular NCL/CMPT/53386 dated August 22, 2022
- Post Record Date: Switch to new ISIN for all pay-in and early pay-in instructions after October 17, 2025
Important Dates
- October 16, 2025: Circular issuance date
- October 17, 2025: Record date and ex-date for face value split
- October 17, 2025: Early pay-in date using old ISIN (Settlement 2025199)
- October 20, 2025: Early pay-in date using new ISIN (Settlements 2025199 & 2025200)
Impact Assessment
Market Impact: Limited to traders and custodians dealing with Rolex Rings Limited securities during the transition period.
Operational Impact: Medium - Members and custodians must carefully track ISIN usage based on settlement dates. The 1:10 split ratio requires adjustment calculations for early pay-in quantities. Using incorrect ISIN or quantities could result in settlement failures or margin calculation errors.
Client Impact: Clients undertaking sale transactions must ensure proper blocking mechanism compliance. Custodians must correctly allocate early pay-in benefits based on actual traded quantities, not adjusted quantities.
Risk: Potential for operational errors during the transition if members fail to use correct ISIN for respective settlement dates or miscalculate conversion quantities.
Impact Justification
Operational circular affecting specific stock with face value split requiring special early pay-in procedures for members and custodians