Description

NSE announces a Special Pre-Open Session (SPOS) for Vedanta Limited (VEDL) in the Capital Market segment on April 30, 2026, from 9:00 a.m. to 10:00 a.m., in connection with its scheme of arrangement.

Summary

NSE has announced a Special Pre-Open Session (SPOS) for Vedanta Limited (VEDL) in the Capital Market segment on Thursday, April 30, 2026, from 9:00 a.m. to 10:00 a.m. This session is being conducted in connection with Vedanta’s scheme of arrangement, pursuant to SEBI circular CIR/MRD/DP/01/2012 dated January 20, 2012 and SEBI clarification OW/27536/2015 dated September 30, 2015.

Key Points

  • Special Pre-Open Session (SPOS) for VEDL will be held on April 30, 2026, from 9:00 a.m. to 10:00 a.m. in the Capital Market segment.
  • Order-level risk management during the one-hour call auction session will follow rules applicable to ’re-listed scrips’ as per para 5 of SEBI circular CIR/MRD/DP/01/2012.
  • Unmatched orders within the dynamic price band of the discovered price will be moved to the normal trading session at their limit price.
  • If equilibrium price is not discovered, all orders will be cancelled and the stock will continue in call auction mechanism until price is discovered.
  • VEDL will be eligible only for the second session of the block deal window on April 30, 2026, subject to successful price discovery.
  • VWAP price will serve as the base price for the second block deal session, subject to successful price discovery.
  • Members must load the updated security.gz/nnf_security.gz file before trading on April 30, 2026.

Regulatory Changes

The session is governed by SEBI circular CIR/MRD/DP/01/2012 (January 20, 2012) and SEBI clarification OW/27536/2015 (September 30, 2015). Risk management for the call auction session will be applied as per the ’re-listed scrips’ framework under para 5 of the referenced SEBI circular. Members may also refer to Chapter 1.2 of NSE circular ref. no. 67774 dated April 30, 2025 for full details of SPOS procedures.

Compliance Requirements

  • Trading members must update their trading applications with the latest security.gz/nnf_security.gz files available from the directory common/NTNEAT on the Extranet server before April 30, 2026.
  • Members must adhere to the order-level risk management rules applicable to re-listed scrips during the SPOS.
  • Members should be aware that VEDL block deal participation is restricted to the second session only on April 30, 2026.

Important Dates

  • April 30, 2026: Special Pre-Open Session for VEDL, 9:00 a.m. to 10:00 a.m. (Capital Market segment).
  • April 30, 2026: Updated security.gz/nnf_security.gz files must be loaded before trading commences.
  • April 30, 2026: VEDL eligible for second block deal window session only (subject to successful price discovery).

Impact Assessment

This circular has a high operational impact on trading members and investors dealing in VEDL. The one-hour SPOS will temporarily alter normal trading mechanics for VEDL, applying stricter call auction rules akin to re-listed scrips. Price discovery during the session is critical — failure to discover an equilibrium price will result in all orders being cancelled and trading continuing in call auction mode. The restriction of VEDL to only the second block deal session on April 30 may affect institutional trade execution. Members failing to update the required system files risk trading disruptions. Overall, participants in VEDL should plan their order strategies carefully for April 30, 2026.

Impact Justification

Directly affects trading of VEDL on April 30, 2026, with a mandatory one-hour special session, modified risk management rules, and requirements for members to update trading system files before the session.