Havells India Limited has informed the Exchange that it has fixed August 27, 2014 as the Record
Date for the sub-division of the nominal face value of the equity shares of the company from Rs.5
to Rs.1 per equity share. Hence each shareholder would be entitled to receive 5 Equity Shares of
Rs.1 each for every 1 Equity Share of Rs.5 each of the Company.
Symbol : HAVELLS
Stock split ratio : 5:1
Ex-date : August 26, 2014
Adjustment factor:
Adjustment factor for Stock split of A: B is defined as (A/B). In the case of HAVELLS, 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
http://www.nseindia.com/content/circulars/FAOP27428.pdf
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Date for the sub-division of the nominal face value of the equity shares of the company from Rs.5
to Rs.1 per equity share. Hence each shareholder would be entitled to receive 5 Equity Shares of
Rs.1 each for every 1 Equity Share of Rs.5 each of the Company.
Symbol : HAVELLS
Stock split ratio : 5:1
Ex-date : August 26, 2014
Adjustment factor:
Adjustment factor for Stock split of A: B is defined as (A/B). In the case of HAVELLS, 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
http://www.nseindia.com/content/circulars/FAOP27428.pdf
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