Early Pay-In of Securities for Premier Explosives Limited Announced by NSE Clearing Limited
Mumbai, June 19, 2024 In an important update for market participants, NSE Clearing Limited has issued a new circular regarding the early pay-in of securities for Premier Explosives Limited (PREMEXPLN). The announcement comes in line with the upcoming corporate action involving the face-value split of the company’s shares.
As per the circular (Ref. No. 0128/2024), members, custodians, and PCMs are notified of the procedures required for early pay-in of Premier Explosives Limited shares due to the face value split from Rs. 10/- each to Rs. 2/- each. The record date and ex-date for this corporate action are both set for June 21, 2024.
Key Details of the Circular:
- Security Symbol: PREMEXPLN
- Existing/Old ISIN: INE863B01011
- Corporate Action: Face Value Split
- Record Date: June 21, 2024
- Ex-Date: June 21, 2024
Market participants must execute early pay-in (EPI) of securities in the old ISIN on the specified dates without adjusting for conversion in the applicable settlement type for the trade date.
Early Pay-In Schedule:
- EPI Date: June 21, 2024
- Settlement Number: 2024116
- ISIN: Old/Existing ISIN
- EPI Date: June 24, 2024
- Settlement Numbers: 2024116 & 2024117
- ISIN: New ISIN
Example for Clarity:
For a sale quantity of 5 shares on the ex-date/record date, the early pay-in in the depository should be executed in the old ISIN for a quantity of 1 share. Market participants and custodians must follow this example to ensure accurate early pay-in procedures.
Additionally, as per the SEBI circular on Block Mechanism dated August 22, 2022, custodians using the block mechanism for early pay-in must not upload the client-wise early pay-in allocation file. However, to pass on the benefits of early pay-in to their clients, custodians providing early pay-in through the pool account must upload client-wise early pay-in allocation details according to the actual traded quantity.
Contact Information:
For any further clarifications and queries, market participants can reach out to the NSE Clearing Limited help desk team:
- Telephone: 1800 266 0050 (IVR option 2)
- Email: securities_ops@nsccl.co.in
This announcement aims to facilitate a smooth transition during the corporate action of Premier Explosives Limited and ensure compliance with regulatory requirements.
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