NSE Clearing Limited has issued instructions for early pay-in (EPI) of securities for Avro India Limited (AVROIND, ISIN: INE652Z01017) in connection with a face value sub-division from Rs 10 per share to Re 1 per share. Members, custodians, and PCMs must follow specific ISIN and quantity guidelines for pay-in instructions on and around the ex/record date of May 5, 2026.

Key Points

• Avro India Limited (AVROIND) is undergoing a face value split from Rs 10/- to Re 1/- per share
• Both ex-date and record date are May 5, 2026
• Early pay-in on May 5, 2026 must use the old/existing ISIN (INE652Z01017) without adjusting for the conversion
• Early pay-in on May 6, 2026 must use the new ISIN
• For a sale of 10 shares, early pay-in in the old ISIN should be for a quantity of 1 share (pre-split equivalent)
• Custodians using pool accounts must upload client-wise early pay-in allocation details based on actual traded quantity (post-split)
• Client-wise early pay-in allocation files must NOT be uploaded when using block mechanism for early pay-in

Regulatory Changes

No new regulatory changes introduced. This circular operationalizes existing provisions under NCL/CMPT/67751 (dated April 29, 2025) — specifically Item 10.18 on Early Pay-in of Securities for Margin Exemption — and cross-references NCL/CMPT/53386 (dated August 22, 2022) on SEBI’s block mechanism in demat accounts for sale transactions.

Compliance Requirements

• All Members/Custodians/PCMs must execute EPI instructions in the old ISIN for the ex-date/record date (May 5, 2026) without adjusting for the split ratio
• After record date, pay-in/early pay-in instructions must be executed in the new ISIN
• Custodians providing EPI through pool accounts are required to upload client-wise early pay-in allocation details reflecting actual traded (post-split) quantities
• Block mechanism users must not upload the client-wise EPI allocation file
• Quantity adjustment: for every 10 post-split shares sold, EPI in old ISIN should be for 1 share

Important Dates

Impact Assessment

This circular has a medium, targeted operational impact limited to market participants trading Avro India Limited (AVROIND) around the face value split dates. Incorrect ISIN usage or failure to adjust EPI quantities could result in settlement failures or loss of margin exemption benefits. Custodians managing client pools bear additional responsibility for uploading accurate allocation files. Members should update their depository instruction workflows for the specific settlement numbers (2026082 and 2026083) to ensure compliance.

NSE has notified all exchange members that the ISIN code for Avro India Limited (symbol: AVROIND) will be changed effective May 05, 2026. The change is a result of a sub-division of equity shares from a face value of Rs. 10/- per share to Re. 1/- per share. The new ISIN is INE652Z01025.

Key Points

• The ISIN for Avro India Limited (AVROIND) is being changed to INE652Z01025
• The change is triggered by a share sub-division (stock split) from Rs. 10/- face value to Re. 1/- face value
• The new ISIN is effective from May 05, 2026 (the Ex-date)
• All trades executed on and after the Ex-date will use the new ISIN
• Circular reference: NSE/CML/73983, Ref. No. 0715/2026

Regulatory Changes

The existing ISIN for AVROIND is being replaced with INE652Z01025 to reflect the corporate action of share sub-division. This is a standard procedure under SEBI and depository regulations when a company alters its share face value.

Compliance Requirements

• All exchange members must update their systems to reflect the new ISIN (INE652Z01025) for AVROIND effective May 05, 2026
• Members should ensure that trades, settlements, and client records reference the new ISIN from the Ex-date onwards
• Depositories and custodians should update holdings and position records accordingly

Important Dates

• Circular Date: April 30, 2026
• Ex-date / Effective Date: May 05, 2026 — new ISIN applicable for all trades from this date

Impact Assessment

This change has a moderate operational impact on members, brokers, and investors holding AVROIND shares. The sub-division increases the number of shares outstanding (10x, given the face value ratio), potentially improving liquidity and affordability of the stock. Members must ensure back-office systems, order management platforms, and client-facing portals are updated before the Ex-date to avoid settlement discrepancies. Existing holders will see their ISIN updated in depository accounts automatically, but any standing instructions or pre-configured orders referencing the old ISIN may need to be revised.

NSE has notified all members that Avro India Limited (symbol: AVROIND) will undergo a face value split effective May 5, 2026. The equity share face value will be reduced from Rs. 10 to Re. 1, representing a 10:1 split ratio.

Key Points

• Company: Avro India Limited
• NSE Symbol: AVROIND
• Existing face value and paid-up value: Rs. 10 per share
• New face value and paid-up value: Re. 1 per share
• Effective date: May 5, 2026
• Circular issued by: Dhwani Shah, Manager, NSE Listing Department
• Download Ref No: NSE/CML/73934
• Circular Ref. No: 0699/2026

Regulatory Changes

The paid-up value and face value of equity shares of Avro India Limited will change from Rs. 10 to Re. 1 per share. This is a formal notification to all NSE members regarding the change in share denomination.

Compliance Requirements

• All NSE members are informed and must update their systems to reflect the new face value of Re. 1 per share effective May 5, 2026.
• Trading systems and records must be adjusted to account for the revised face value and paid-up value.

Important Dates

• Circular Date: April 28, 2026
• Effective Date of Face Value Change: May 5, 2026

Impact Assessment

The 10:1 face value split will result in a proportional increase in the number of shares held by existing shareholders while reducing the per-share price proportionally. This typically improves share liquidity and makes the stock more accessible to retail investors. Members and market participants must update their records and systems accordingly before the effective date of May 5, 2026.