Description
NSE notifies change in ISIN codes for five Kotak Mahindra ETFs effective February 27, 2026, following unit sub-division from Rs. 10/- to Re. 1/-.
Summary
NSE has notified that the ISIN codes for units of five Kotak Mahindra Asset Management Company ETFs will change effective February 27, 2026. The change is consequent to a sub-division of units from a face value of Rs. 10/- to Re. 1/- per unit. The new ISINs will apply to all trades executed on and from the ex-date of February 27, 2026.
Key Points
- Five Kotak Mahindra ETFs will receive new ISINs effective February 27, 2026
- Unit sub-division ratio: Rs. 10/- face value reduced to Re. 1/- face value
- New ISINs are applicable for all trades from the ex-date onwards
- Circular issued by NSE Listing Department under Ref No: NSE/CML/72980 (Circular Ref. No: 0313/2026)
Regulatory Changes
The following ISIN changes have been mandated:
| Symbol | Company Name | New ISIN |
|---|---|---|
| BANKNIFTY1 | Kotak Nifty Bank ETF | INF174KA1ZB7 |
| CONS | Kotak Nifty India Consumption ETF | INF174KA1ZF8 |
| SILVER1 | Kotak Silver ETF | INF174KA1ZD3 |
| NV20 | Kotak Nifty 50 Value 20 ETF | INF174KA1ZE1 |
| MIDCAP | Kotak Nifty Midcap 50 ETF | INF174KA1ZC5 |
Compliance Requirements
- Exchange members and brokers must update their systems to reflect the new ISINs for affected ETFs
- Depositories and registrars should ensure unit holder records are updated post sub-division
- All trade confirmations and settlement instructions from February 27, 2026 must reference the new ISINs
Important Dates
- Circular Date: February 25, 2026
- Ex-Date / Effective Date: February 27, 2026 — new ISINs apply to all trades on and from this date
Impact Assessment
The sub-division reduces the face value of each unit from Rs. 10/- to Re. 1/-, which will proportionally increase the number of units held by investors while reducing the per-unit price. This is primarily an operational change: brokers, custodians, and portfolio management systems must be updated to use the new ISINs. Existing investors in these five ETFs will see their holdings reflected under new ISINs post the ex-date. There is no change to the underlying investment mandate or NAV-based valuation of the ETFs.
Impact Justification
Operational ISIN change affecting five Kotak ETFs due to unit sub-division; requires system updates by brokers and depositories but does not alter underlying fund strategy or holdings.