Description

Instructions for early pay-in process for SKMEGGPROD due to face value split from Rs 10 to Rs 5 per share with record date January 12, 2026.

Summary

NSE Clearing Limited has issued instructions for the early pay-in process for SKM Egg Products Export (India) Limited (SKMEGGPROD) securities undergoing a face value split from Rs 10 per share to Rs 5 per share. The corporate action has a record date and ex-date of January 12, 2026. Members and custodians must follow specific procedures for early pay-in using old and new ISINs during the transition period.

Key Points

  • Face value split (sub-division) from Rs 10 per share to Rs 5 per share for SKMEGGPROD
  • Old ISIN: INE411D01015
  • Record Date and Ex-Date: January 12, 2026
  • Early pay-in must be executed in old ISIN without adjusting for conversion on specific dates
  • For EPI date January 12, 2026 (Settlement 2026008): Use old/existing ISIN
  • For EPI date January 13, 2026 (Settlements 2026008 & 2026009): Use new ISIN
  • After record date, all pay-in/early pay-in instructions must use new ISIN

Regulatory Changes

No new regulatory changes. This circular implements existing early pay-in procedures outlined in consolidated circular NCL/CMPT/67751 dated April 29, 2025 (Item 10.18) for margin exemption.

Compliance Requirements

  • Market Participants/Custodians: Execute early pay-in instructions in old ISIN for ex-date/record date with adjusted quantities (e.g., for sale of 10 shares, early pay-in should be 5 shares in old ISIN)
  • Block Mechanism: Members must adhere to NCL circular NCL/CMPT/53386 dated August 22, 2022 regarding SEBI block mechanism in client demat accounts
  • Client-wise Allocation: In case of early pay-in through block mechanism, client-wise early pay-in allocation file should NOT be uploaded
  • Custodians (Pool Account): Must upload client-wise early pay-in allocation details as per actual traded quantity (not adjusted quantity)
  • Post Record Date: Execute all pay-in/early pay-in instructions in new ISIN after January 12, 2026

Important Dates

  • January 9, 2026: Circular issue date
  • January 12, 2026: Record date and ex-date for face value split; EPI date for settlement 2026008 (use old ISIN)
  • January 13, 2026: EPI date for settlements 2026008 & 2026009 (use new ISIN)

Impact Assessment

Operational Impact: Medium - Requires members and custodians to carefully manage ISIN transitions and quantity adjustments during early pay-in for SKMEGGPROD. Incorrect ISIN usage or quantity errors could lead to settlement failures.

Market Impact: Low to Medium - Limited to SKMEGGPROD holders and traders. The face value split increases share count but does not affect overall market capitalization.

Member Action Required: Members must update systems and processes to handle the ISIN transition correctly and educate clients about the split ratio and settlement procedures.

Impact Justification

Specific operational instructions for members and custodians regarding early pay-in process for a single stock undergoing face value split. Medium impact as it affects trading and settlement procedures for SKMEGGPROD only.