Description

NSE announces adjustment of futures and options contracts for ONGC following dividend declaration of Rs 6 per share with ex-date November 14, 2025.

Summary

NSE has announced the adjustment of futures and options contracts for Oil & Natural Gas Corporation Limited (ONGC) following the declaration of a dividend of Rs 6 per share (face value Rs 5). The adjustments will be effective from the ex-date of November 14, 2025. All option strike prices will be revised downward by Rs 6 to account for the dividend payment.

Key Points

  • Company: Oil & Natural Gas Corporation Limited (ONGC)
  • Corporate Action Type: Dividend
  • Face Value: Rs 5 per share
  • Dividend Amount: Rs 6 per share
  • Ex-Date and Effective Date: November 14, 2025
  • All existing option strike prices will be reduced by Rs 6
  • Revised strike prices will appear in decimal places and be rounded to nearest tick size
  • Lot sizes will be rounded to nearest integer
  • Position adjustment methodology to be communicated separately by Clearing Corporation

Regulatory Changes

This circular is issued in pursuance of SEBI guidelines for adjustments to futures and options contracts on announcement of corporate actions. The adjustment follows standard protocol for dividend-related contract modifications in the derivatives segment.

Compliance Requirements

  • Members must load updated contract files (NSE_FO_contract_ddmmyyyy.csv.gz) and spread files (NSE_FO_spdcontract_ddmmyyyy.csv.gz) on trading applications before trading on the ex-date
  • Files are available from directory faoftp/faocommon on Extranet server
  • MII contract and spread files are also available on NSE website under derivatives reports section
  • Members should refer to adjustment details at: https://www.nseindia.com/products-services/equity-derivatives-corporate-actions-adjustments

Important Dates

  • Circular Date: November 13, 2025
  • Ex-Date and Effective Date: November 14, 2025
  • Affected Expiry Dates: November 25, 2025 and December 30, 2025 (and potentially later expiries)

Impact Assessment

Market Impact: Medium - affects all traders and market participants holding ONGC futures and options positions. The Rs 6 dividend adjustment will result in proportional changes to all strike prices.

Operational Impact: Traders holding open positions in ONGC derivatives need to account for adjusted strike prices. Example adjustments include: 200 strike reduced to 194, 250 strike reduced to 244, 270 strike reduced to 264. The annexure lists 24+ specific strike price adjustments for November expiry contracts.

Trading Impact: Members must ensure trading systems are updated with revised contract specifications before market opening on November 14, 2025 to prevent trading disruptions or position mismatches.

Impact Justification

Routine dividend-related adjustment affecting F&O contracts in ONGC. Medium impact on traders holding positions in ONGC derivatives requiring contract adjustments.