The Board of Directors of Oracle Financial Services Software Limited (OFSS) has declared a dividend of ₹270 per equity share, with the ex-dividend date being May 07, 2026.
SEBI has prescribed a framework for exchanges to adjust derivative contracts at the time of corporate actions. The exchange has published detailed guidelines on such adjustments. As per this framework, if a company declares a dividend that is equal to or more than 2% of the market value of the underlying security, it is treated as an extraordinary dividend, and the exchange carries out adjustments in the futures and options contracts of the stock.
Since the dividend declared by OFSS is above 2% of the market value of the security, the exchange has issued a circular on the adjustment of F&O contracts in OFSS on the ex-date, May 07, 2026.
Adjustment for future contracts:
All positions in futures contracts of OFSS will be marked-to-market on the last cum-dividend date, i.e. May 06, 2026, based on the daily settlement price of the respective futures contract. Subsequently, open positions will be carried forward at the daily settlement price less ₹270 (dividend amount) for the respective futures contract.
From May 07, 2026 (ex-dividend date), daily mark-to-market settlement of the futures contracts will continue as per normal procedures.
For example:
Assume you bought 1 lot (75 quantities) of OFSS May futures on May 06, 2026, at ₹8,841, and the daily settlement price at market close is ₹8,900, you would have made a mark-to-market profit of ₹59 per share.
On May 07, 2026, the previous day’s position will be carried forward at ₹8,630 (i.e. 8,900 − 270). If the closing price on May 07, 2026, is ₹8,700, you’ll make a mark-to-market profit of ₹70 per share.
Adjustment for options contracts:
The full value of the dividend, i.e. ₹270, will be deducted from all the cum-dividend strike prices on the ex-dividend date. All positions in existing strike prices will continue to exist in the corresponding new adjusted strike prices.
For example:
The strike price of the ₹6,000 Call Option will be reduced to ₹5,730 on May 07, 2026, and the positions in the ₹6,000 Call Option will continue to exist in the ₹5,730 Call Option.
The lot size of the F&O contracts will not change.
Also, if you hold equity shares of OFSS in your Demat account as of May 07, 2026 (ex-date), you will be entitled to receive the dividend, which will be credited directly to your primary bank account within 30 to 45 days from the record date.