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H N Menon at 05:12 PM - Nov 26, 2014 ( ) Views: 380




• Adjustment of Futures and Options contracts in the security ICICIBANK 

In pursuance of SEBI guidelines for adjustments to futures and options contracts on announcement of corporate action, ICICI Bank Limited has informed the Exchange that it has fixed December 05, 2014 as the Record Date for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 (Five) equity shares of nominal value of Rs 2/- each in lieu of 1 (One) equity share of nominal value of Rs 10/- each of the Bank.

Symbol : ICICIBANK
Stock split ratio : 5:1
Ex-date : December 04, 2014

Adjustment factor: 
Adjustment factor for Stock split of A: B is defined as (A/B). In the case of ICICIBANK, the adjustment factor is (5/1) = 5, since the split ratio is 5:1.

Adjustments for Options Contracts: 
1. Strike Price: The adjusted strike price shall be arrived at by dividing the old strike price by the
    adjustment factor.
2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by
    the adjustment factor. The revised market lot would be 1250.

Adjustments for Futures Contracts: 
1. Futures price: The adjusted futures price shall be arrived at by dividing the old futures price by
    the adjustment factor.
2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by
    the adjustment factor. The revised market lot would be 1250.

An example for deriving the adjustment factor, revised strike /futures base price and lot size is given in Annexure-1


• Adjustment of Futures and Options contracts in the security INFY 

In pursuance of SEBI guidelines for adjustments to futures and options contracts on announcement of corporate action, Infosys Limited has informed the Exchange that the Company has fixed Record Date asDecember 03, 2014 for the purpose of issue of Bonus shares in the ratio of 1:1 (i.e a bonus issue of one equity share for every equity share held by the shareholders).

Symbol : INFY
Bonus issue ratio : 1:1
Ex-Date December 02, 2014

Adjustment factor: 
Adjustment factor for Bonus issue of A: B is defined as (A+B)/B. In the case of INFY, the adjustment factor is (1+1)/1 = 2, since the bonus issue ratio is 1:1.

Adjustments for Options Contracts: 
1. Strike Price: The adjusted strike price shall be arrived at by dividing the old strike price by the
    adjustment factor.
2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by
    the adjustment factor. The revised market lot would be 250. 

Adjustments for Futures Contracts: 
1. Futures price: The adjusted futures price shall be arrived at by dividing the old futures price by
    the adjustment factor.
2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by
    the adjustment factor. The revised market lot would be 250. 




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