Early Pay-In of Securities for Premier Explosives Limited Announced by NSE Clearing Limited

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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:

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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