Description
NSE Clearing Limited instructs members on early pay-in procedures for Aqylon Nexus Limited (AQYLON) ahead of a face value split from Rs 10 to Re 1 per share, effective March 5, 2026.
Summary
NSE Clearing Limited (NCL) has issued instructions to all Members, Custodians, and PCMs regarding the early pay-in (EPI) of securities for Aqylon Nexus Limited (Symbol: AQYLON) in connection with an upcoming face value split. The stock’s face value will be sub-divided from Rs 10 per share to Re 1 per share, with the record date and ex-date both set for March 5, 2026. Members must use the old/existing ISIN for EPI on the ex-date and switch to the new ISIN from March 6, 2026 onwards.
Key Points
- Aqylon Nexus Limited (AQYLON) is undergoing a face value split from Rs 10/- per share to Re 1/- per share
- Existing/Old ISIN: INE416A01044
- Record Date and Ex-Date: March 5, 2026
- For EPI on March 5, 2026 (Settlement No. 2026044), use the Old/Existing ISIN
- For EPI on March 6, 2026 (Settlement Nos. 2026044 & 2026045), use the New ISIN
- EPI instructions must not adjust for the conversion ratio when using the old ISIN (e.g., for a sale of 10 shares post-split, EPI in old ISIN should be for 1 share)
- In case of EPI through block mechanism, client-wise EPI allocation file should not be uploaded
- Custodians providing EPI through pool accounts must upload client-wise EPI allocation details based on actual traded quantity
Regulatory Changes
This circular references Item 10.18 of the consolidated NCL circular (NCL/CMPT/67751 dated April 29, 2025) on ‘Early Pay-in of Securities for Margin Exemption.’ Members must also adhere to NCL circular NCL/CMPT/53386 dated August 22, 2022, regarding SEBI’s block mechanism in demat accounts for clients undertaking sale transactions.
Compliance Requirements
- Members and custodians must execute EPI in the old ISIN (INE416A01044) for trades on the ex-date (March 5, 2026) without adjusting for the split ratio
- After the record date, all pay-in and early pay-in instructions must be executed using the new ISIN
- Custodians using pool accounts for EPI must upload client-wise EPI allocation files reflecting actual traded quantities (post-split quantities)
- Members using block mechanism for EPI must not upload client-wise allocation files
- For queries, contact the NSE Clearing help desk at 18002660050 (Option 2) or securities_ops@nsccl.co.in
Important Dates
| Date | Event |
|---|---|
| March 4, 2026 | Circular issued |
| March 5, 2026 | Ex-Date & Record Date for face value split; EPI in Old ISIN for Settlement No. 2026044 |
| March 6, 2026 | EPI in New ISIN for Settlement Nos. 2026044 & 2026045 |
Impact Assessment
This circular has a moderate operational impact on members and custodians actively trading Aqylon Nexus Limited (AQYLON) around the ex-date. Failure to use the correct ISIN during the transition period could result in settlement failures or incorrect margin calculations. The instruction to not adjust for the conversion ratio when using the old ISIN is critical — market participants must be aware that for a post-split sale of 10 shares, the EPI quantity in the old ISIN is only 1 share. Custodians providing EPI through pool accounts face an additional obligation to upload accurate client-wise allocation details. The broader market impact is limited as this affects only one stock.
Impact Justification
Operationally important for members and custodians trading AQYLON around the ex-date/record date of March 5, 2026, requiring specific ISIN handling for early pay-in; limited to a single stock corporate action.