Description

NSE Clearing notifies members about early pay-in process for Geekay Wires Limited due to face value split from Rs 2/- to Re 1/- per share with ex-date and record date on October 30, 2025.

Summary

NSE Clearing Limited has issued instructions regarding the early pay-in (EPI) of securities for Geekay Wires Limited (GEEKAYWIRE) in connection with a face value split from Rs 2/- per share to Re 1/- per share. Members and custodians must follow specific procedures for early pay-in using the old ISIN before the ex-date and record date of October 30, 2025, and switch to the new ISIN thereafter.

Key Points

  • Face value split (sub-division) from Rs 2/- per share to Re 1/- per share for Geekay Wires Limited
  • Existing/Old ISIN: INE669X01024
  • Ex-date and Record date: October 30, 2025
  • Early pay-in on October 30-31, 2025 must use the old ISIN without adjusting for conversion
  • Settlement numbers affected: 2025207 (Oct 30) and 2025207 & 2025208 (Oct 31)
  • Example: For sale of 2 shares, early pay-in in old ISIN should be for 1 share
  • After record date, use new ISIN for all pay-in/early pay-in instructions
  • Block mechanism in demat accounts applies as per SEBI guidelines

Regulatory Changes

No new regulatory changes introduced. This circular references existing framework from consolidated circular NCL/CMPT/67751 dated April 29, 2025 regarding Item 10.18 ‘Early Pay-in of Securities for Margin Exemption’ and NCL circular NCL/CMPT/53386 dated August 22, 2022 on SEBI’s block mechanism in demat accounts.

Compliance Requirements

  • Members/Custodians: Execute early pay-in instructions in old ISIN (INE669X01024) on October 30-31, 2025 for applicable settlement numbers
  • Quantity Adjustment: Adjust quantities based on pre-split ratio when using old ISIN (e.g., 1 old share for 2 new shares)
  • Block Mechanism: Adhere to SEBI circular on block mechanism in demat accounts; do not upload client-wise early pay-in allocation file when using block mechanism
  • Pool Account Users: Custodians providing early pay-in through pool accounts must upload client-wise allocation details based on actual traded quantity (post-split quantity)
  • Post Record Date: Switch to new ISIN for all pay-in/early pay-in instructions after October 30, 2025

Important Dates

  • October 30, 2025: Ex-date and Record date for face value split
  • October 30, 2025: EPI date - Settlement number 2025207 (use old ISIN)
  • October 31, 2025: EPI date - Settlement numbers 2025207 & 2025208 (Oct 30: old ISIN, Oct 31 onwards: new ISIN)
  • After October 30, 2025: Use new ISIN for all subsequent transactions

Impact Assessment

Operational Impact: Medium - Members and custodians trading or settling GEEKAYWIRE securities must carefully manage the transition between old and new ISINs during the specified dates. Incorrect ISIN usage could result in settlement failures or margin calculation errors.

Market Participants Affected: All members, custodians, and PCMs dealing with Geekay Wires Limited securities, particularly those utilizing early pay-in facility for margin exemption.

Risk: Procedural errors in ISIN selection or quantity adjustment during the transition period could lead to operational issues. The requirement to use old ISIN with adjusted quantities on specific dates requires careful attention to detail.

Contact: NSE Clearing helpdesk available at 18002660050 (Option-2) or securities_ops@nsccl.co.in for clarifications.

Impact Justification

Operational circular affecting specific trading and settlement procedures for one stock undergoing face value split; important for members trading GEEKAYWIRE to ensure correct ISIN usage for early pay-in