Angel One Ltd (ANGELONE) has announced a split in the face value of its equity shares from FV of Rs 10 per share to Rs 1 per share, in the ratio 10:1, and has fixed February 26, 2026, as the record date.
As a result, the futures and options contracts of ANGELONE will be adjusted in accordance with the SEBI-prescribed framework. The adjustment will result in a change in the strike price and lot size of options and the price and lot size of the futures contracts. These changes will come into effect on the ex-date, February 26, 2026. You can check the circular from the exchange here.
SEBI has prescribed a framework to the exchanges for the adjustment of corporate actions in derivative contracts at the time of the corporate action. The exchange has published all information regarding the adjustments for corporate actions here. The adjustments are carried out so that the value of the position of the market participants, on the cum and ex-dates for the corporate action, continues to remain the same as far as possible.
Here’s how the adjustment works:
The adjustment factor for the stock split of A: B is defined as (A/B). In the case of ANGELONE, the adjustment factor is (10/1) = 10, since the split ratio is 10:1.
Adjustment of Futures Contracts:
Futures base price:
The adjusted futures price will be determined by dividing the settlement price of the future on the day before the ex-date by the adjustment factor.
Futures lot size:
The adjusted market lot is arrived at by multiplying the old market lot by the adjustment factor. The revised market lot is 2500.
Example:
If you are holding a position in ANGELONE MAR FUT, and on the pre-ex-date (February 25, 2026) the future closes at 2527, then on the ex-date the price will be adjusted to 252.7 (Price on pre-ex-date: 2527 / Adjustment Factor: 10).
The lot size will be adjusted to 2500 (Current lot size 250 × Adjustment Factor 10).
Adjustment of Options Contracts:
Strike Price:
The adjusted strike price will be arrived at by dividing the old strike price by the adjustment factor.
Lot Size:
The adjusted lot size will be arrived at by multiplying the old market lot by the adjustment factor. The revised lot size would be 2500.
Example:
If you are holding a position in ANGELONE MAR 2500 CE, the current lot size is 250.
On the ex-date, the 2500 CE will be adjusted to 250 CE (Strike Price: 2500 / Adjustment Factor: 10), and the lot size will be adjusted to 2500 (Current lot size 250 × Adjustment Factor 10).
Those holding positions in F&O contracts are not eligible for corporate action benefits.
If you are holding equity shares of ANGELONE on the record date February 26, 2026, you will be eligible to receive the split shares.
The credit of shares can take up to 2 working days from the record date (January 10, 2025). You can check out more details here