Axis Bank stock to get splited in a ratio of 1:5, how will it affect F&O postions?

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The board of directors has declared a dividend of Rs 20 per share and also approved the sub-division of one equity share of the bank having a face value of Rs 10 each into five equity shares of face value Rs 2 each.

Read more at: http://www.moneycontrol.com/news/results/axis-bank-q4-net19-to-rs-1842-cr-approves-stock-split_1074509.html?utm_source=ref_article

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There would be a corporate actions adjustment, which should be announced by NSE very soon. You can refer to this NSE link. So Basically both the lotsize and strike prices would change, by how much should be announced soon. 

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Thanks Nithin.