Description
NSE Clearing specifies early pay-in procedures for Websol Energy System Limited due to face value split from Rs 10 to Re 1 per share with record date November 14, 2025.
Summary
NSE Clearing Limited has issued instructions regarding early pay-in (EPI) of securities for Websol Energy System Limited (WEBELSOLAR) due to a face value split from Rs 10 per share to Re 1 per share. Members and custodians must follow specific procedures for early pay-in on different settlement dates using old and new ISINs.
Key Points
- Face value split: Rs 10 per share to Re 1 per share (1:10 split)
- Existing/Old ISIN: INE855C01015
- Record Date and Ex-Date: November 14, 2025
- Early pay-in on November 14, 2025 (Settlement 2025217) must use old ISIN
- Early pay-in on November 17, 2025 (Settlements 2025217 & 2025218) transitions to new ISIN
- For sale of 10 shares, early pay-in should be 1 share in old ISIN (before record date)
- Block mechanism per SEBI circular applies - client-wise allocation file should not be uploaded for early pay-in through block mechanism
- Custodians using pool accounts must upload client-wise allocation based on actual traded quantity
Regulatory Changes
No new regulatory changes introduced. This circular implements existing early pay-in procedures (Item 10.18 of consolidated circular NCL/CMPT/67751 dated April 29, 2025) for a specific corporate action.
Compliance Requirements
- Members and Custodians: Execute early pay-in instructions in old ISIN (INE855C01015) for trades on November 14, 2025 without adjusting for conversion
- Members: Adhere to NCL circular NCL/CMPT/53386 dated August 22, 2022 regarding block mechanism in demat accounts
- Members using block mechanism: Do not upload client-wise early pay-in allocation file
- Custodians using pool accounts: Must upload client-wise early pay-in allocation details based on actual traded quantity (post-split quantity)
- All participants: Execute pay-in/early pay-in instructions in new ISIN after record date (from November 15, 2025 onwards)
Important Dates
- November 14, 2025: Record Date and Ex-Date for face value split
- November 14, 2025: Early pay-in date - Settlement 2025217 (use old ISIN)
- November 17, 2025: Early pay-in date - Settlements 2025217 & 2025218 (use new ISIN)
- After November 14, 2025: All pay-in/early pay-in instructions must use new ISIN
Impact Assessment
Operational Impact: Members and custodians must carefully manage the transition between old and new ISIN for early pay-in transactions during the settlement period surrounding the face value split. Incorrect ISIN usage could result in settlement failures or margin calculation issues.
Market Impact: Limited to participants trading WEBELSOLAR during the corporate action period. The 1:10 split will increase share liquidity and reduce per-share price, potentially broadening retail participation.
Trading Impact: Market participants must adjust order quantities and early pay-in calculations to account for the 10:1 conversion ratio during the transition period between old and new ISIN usage.
Impact Justification
Important procedural circular for members and custodians handling early pay-in for a specific corporate action affecting settlement procedures for WEBELSOLAR stock split