Description

NSE announces change in ISIN code for Bharat Rasayan Limited equity shares effective December 12, 2025 due to stock sub-division from Rs. 10/- to Rs. 5/-.

Summary

The National Stock Exchange of India has announced a change in the ISIN code for equity shares of Bharat Rasayan Limited (Symbol: BHARATRAS). The new ISIN code INE838B01021 will be effective from December 12, 2025, following a stock sub-division from face value of Rs. 10/- to Rs. 5/- per share.

Key Points

  • Company affected: Bharat Rasayan Limited (BHARATRAS)
  • New ISIN: INE838B01021
  • Reason: Sub-division of equity shares from Rs. 10/- to Rs. 5/- face value
  • Effective date: December 12, 2025 (Ex-date)
  • All trades executed on or after the ex-date will use the new ISIN
  • Circular reference number: 2351/2025
  • NSE reference: NSE/CML/71625

Regulatory Changes

This circular implements a technical change to the securities identification system following a corporate action. The ISIN (International Securities Identification Number) change is mandatory to reflect the altered face value of equity shares post sub-division.

Compliance Requirements

  • All NSE members must update their systems to reflect the new ISIN code for BHARATRAS
  • Trading systems must be configured to use the new ISIN INE838B01021 from December 12, 2025
  • Members must ensure proper mapping and transition from the old ISIN to new ISIN in their back-office systems
  • Settlement and clearing processes must account for the ISIN change from the ex-date

Important Dates

  • December 04, 2025: Circular issued
  • December 12, 2025: Ex-date - New ISIN becomes effective for all trades

Impact Assessment

Market Impact: Medium - The stock sub-division will double the number of outstanding shares while halving the price per share, making the stock more accessible to retail investors. The ISIN change is a technical requirement that ensures proper identification and tracking of the subdivided shares.

Operational Impact: Medium - Trading members, custodians, and depositories must update their systems to handle the new ISIN. While this is a routine process, it requires coordination across all market participants to ensure seamless transition on the ex-date.

Investor Impact: Low to Medium - Existing shareholders will automatically receive additional shares in the 2:1 ratio (sub-division from Rs. 10 to Rs. 5). No action is required from investors, but they should be aware of the change in share count and price adjustment in their portfolios.

Impact Justification

ISIN change due to stock sub-division affects all trading and settlement processes for BHARATRAS shares but is a routine corporate action with clear implementation date.