Description

NSE announces adjustment of Futures and Options contracts for Vedanta Limited (VEDL) effective April 30, 2026, due to a Scheme of Arrangement (Demerger), with new futures and spread contracts introduced.

Summary

NSE has announced the adjustment of Futures and Options (F&O) contracts for Vedanta Limited (VEDL) pursuant to a Scheme of Arrangement (Demerger). The adjustment is effective from the ex-date of April 30, 2026, and introduces new futures contracts, spread combination contracts, and a revised strike scheme for options. Members are required to load updated contract files before trading on the ex-date.

Key Points

  • Symbol: VEDL (Vedanta Limited)
  • Corporate action type: Scheme of Arrangement (Demerger)
  • Ex-date and effective date: April 30, 2026
  • Revised lot size: 1,150
  • New single-leg futures contracts introduced for expiries: 26-May-2026, 30-Jun-2026, and 28-Jul-2026
  • New futures spread combination contracts introduced: MAY26JUN26 and JUN26JUL26
  • Option strike scheme applicable on ex-date detailed in Annexure-1; additional strikes may be made available based on price discovery during the day
  • Trading in F&O contracts on ex-date will commence at 10:00 AM, subject to completion of the Special Pre-Open Session (SPOS) in the Capital Market segment
  • Members must load updated contract.gz and spd_contract.gz files from the faoftp/faocommon directory on the Extranet server before trading on the ex-date

Regulatory Changes

In accordance with SEBI guidelines for adjustments to F&O contracts on announcement of corporate actions, NSE has revised the contract specifications for VEDL. The changes include a new lot size of 1,150, a revised option strike scheme (Annexure-1), and the introduction of new futures and spread contracts aligned with the post-demerger structure of Vedanta Limited.

Compliance Requirements

  • All trading members must download and load the updated contract.gz and spd_contract.gz files from the Extranet server (faoftp/faocommon) before commencing trading on April 30, 2026.
  • Failure to load the latest files will prevent members from setting up contracts in trading terminals, making it impossible to trade or view VEDL F&O details.
  • Members should refer to Annexure-1 for the applicable strike scheme and Annexure-2 for option strikes that may be available for trading based on SPOS price discovery.

Important Dates

  • April 29, 2026: Circular issued by NSE (Ref No: NSE/FAOP/73962, Circular Ref. No: 54/2026)
  • April 30, 2026: Ex-date and effective date for all F&O contract adjustments
  • April 30, 2026, 10:00 AM: Commencement of trading in adjusted F&O contracts on ex-date (post-SPOS)
  • New futures expiries: 26-May-2026, 30-Jun-2026, 28-Jul-2026

Impact Assessment

This circular has a high market impact as it directly affects all traders and members holding or planning to trade Vedanta Limited (VEDL) derivatives. The demerger-driven adjustment changes the lot size to 1,150 and introduces new contract expiries, requiring position recalibration and margin reassessment for existing participants. Members who fail to update their trading systems with the revised contract files will be unable to trade VEDL F&O contracts on the ex-date, posing an operational risk. The introduction of new spread contracts (MAY26JUN26, JUN26JUL26) also expands the available trading instruments for VEDL. Overall, prompt action on system updates is critical for uninterrupted trading.

Impact Justification

Demerger-driven F&O contract adjustment for a large-cap stock (VEDL) with immediate effective date of April 30, 2026; requires members to reload contract files before trading, introduces new futures expiries and spread contracts, and changes lot size — directly affecting all derivatives traders holding VEDL positions.