Description
NSE announces adjustment of futures and options contracts for Coal India Limited due to dividend of Rs 10.25 per share with ex-date November 4, 2025.
Summary
NSE has announced the adjustment of Futures and Options contracts for Coal India Limited (COALINDIA) due to a dividend declaration of Rs 10.25 per share (face value Rs 10). The ex-date and effective date for this adjustment is November 4, 2025. All option strike prices will be revised downward by the dividend amount, and members must update their trading systems with revised contract files before trading on the ex-date.
Key Points
- Company: Coal India Limited (COALINDIA)
- Corporate action: Dividend payment
- Face value: Rs 10 per share
- Dividend amount: Rs 10.25 per share
- Ex-date and effective date: November 4, 2025
- All option strike prices will be adjusted (reduced by dividend amount)
- Strike prices listed from Rs 320 to Rs 400 (and beyond) will be adjusted to Rs 309.75 to Rs 389.75 respectively
- Revised strike prices and lot sizes will appear in decimal places, rounded to nearest tick size
- Members must load updated contract.gz and spread files before trading on ex-date
Regulatory Changes
No new regulatory changes. This circular implements existing SEBI guidelines for adjustments to futures and options contracts upon announcement of corporate actions.
Compliance Requirements
- Trading Members: Must download and load updated contract files (NSE_FO_contract_ddmmyyyy.csv.gz) and spread files (NSE_FO_spdcontract_ddmmyyyy.csv.gz) from the faoftp/faocommon directory on Extranet server before trading on November 4, 2025
- Files also available on NSE website at: https://www.nseindia.com/all-reports-derivatives
- Members must ensure trading applications reflect revised option strike prices and futures base prices
- Position adjustment methodology will be communicated separately by the respective Clearing Corporation
Important Dates
- Circular Date: November 3, 2025
- Ex-Date and Effective Date: November 4, 2025
- Affected Expiry: November 25, 2025 (OPTSTK contracts listed in annexure)
Impact Assessment
Market Impact: Medium - affects all traders holding COALINDIA futures and options positions, particularly November 2025 expiry contracts.
Operational Impact: Trading members must update systems before market opening on November 4, 2025. Failure to update could result in trading errors or position mismatches.
Contract Adjustments: 67+ option strike prices listed in Annexure 1 will be adjusted. For example, the 350 strike will become 339.75, the 360 strike becomes 349.75, etc. The Rs 10.25 dividend is subtracted from all strikes.
Reference: Full adjustment details available at https://www.nseindia.com/products-services/equity-derivatives-corporate-actions-adjustments
Impact Justification
Standard dividend adjustment affecting F&O contracts for a major stock. Medium impact as it affects derivatives traders and requires system updates.