Description
NSE Clearing Limited advises members on early pay-in procedures for R&B Denims Limited ahead of a face value split from Rs 2/- to Re 1/- per share with record date April 3, 2026.
Summary
NSE Clearing Limited (NCL) has issued guidance on early pay-in (EPI) of securities for R&B Denims Limited (Symbol: RNBDENIMS, ISIN: INE012Q01021) in connection with a face value split (sub-division) from Rs 2/- per share to Re 1/- per share. The record date is April 3, 2026, and the ex-date is April 2, 2026. Members, custodians, and PCMs must follow specific instructions regarding which ISIN to use for EPI on each settlement date.
Key Points
- Corporate Action: Face value split (sub-division) of R&B Denims Limited from Rs 2/- per share to Re 1/- per share
- Ex-Date: April 2, 2026
- Record Date: April 3, 2026
- Old/Existing ISIN: INE012Q01021
- EPI on April 2, 2026 (Settlement No. 2026062) must use the Old/Existing ISIN
- EPI on April 6, 2026 (Settlement No. 2026062 & 2026063) must use the New ISIN
- For a sale of 2 shares, EPI in old ISIN should be for a quantity of 1 share (pre-split equivalent)
- Block mechanism EPI: client-wise early pay-in allocation file must not be uploaded
- Pool account custodians must upload client-wise EPI allocation details based on actual traded quantity (post-split)
Regulatory Changes
No new regulatory changes introduced. This circular references and operationalises existing guidelines under:
- NCL Consolidated Circular NCL/CMPT/67751 dated April 29, 2025 (Item 10.18 — Early Pay-in of Securities for Margin Exemption)
- NCL Circular NCL/CMPT/53386 dated August 22, 2022 — SEBI circular on Block Mechanism in demat account of clients undertaking sale transactions
Compliance Requirements
- Members and custodians must use the old ISIN (INE012Q01021) for EPI instructions on the ex-date (April 2, 2026) without adjusting for the conversion
- After the record date, all pay-in/early pay-in instructions must be executed using the new ISIN
- Custodians using pool accounts for EPI must upload client-wise EPI allocation details reflecting actual traded (post-split) quantities
- Members using the block mechanism must not upload the client-wise EPI allocation file
- All participants must adhere to the procedures outlined in NCL/CMPT/53386 regarding block mechanism in demat accounts
Important Dates
| Date | Event |
|---|---|
| March 30, 2026 | Circular issued |
| April 2, 2026 | Ex-Date; EPI in Old ISIN for Settlement No. 2026062 |
| April 3, 2026 | Record Date for face value split |
| April 6, 2026 | EPI in New ISIN for Settlement Nos. 2026062 & 2026063 |
Impact Assessment
This circular has a medium operational impact on members and custodians trading R&B Denims Limited around the corporate action dates. Incorrect ISIN usage during EPI could result in settlement failures or loss of margin exemption benefits. The impact is confined to a single security (RNBDENIMS) and a narrow window of two settlement dates. Participants with existing positions or pending trades in RNBDENIMS must update their systems and processes to handle the ISIN transition correctly. Custodians providing EPI via pool accounts face an additional obligation to upload accurate client-wise allocation data reflecting post-split quantities.
Impact Justification
Operationally important for members and custodians trading RNBDENIMS around the April 2026 face value split; affects settlement procedures and ISIN usage but is limited to a single security.