In the last trading session ICICITech close around 296. Today it opened at 29.6.
I couldn’t find any information on split of units. Also I haven’t heard of any ETF having splits before. Any idea what has happened here ?
Split is not common but it is very likely scenario.
In 2019 GOLDBEES also split by 1/100
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There has been split in face value of this ETF from FV of Rs. 10 to Rs. 1. You can check the announcement here. If you’re holding the units, these will be credited withing 2 working days and the P&L will be adjusted accordingly. More details here.
This is not the first such instance, even ETFs like NiftyBees, BankBees, GoldBees have gone through split in face value.
Thank you. I tried searching for it online.
Since I have pledged them, my collateral value has come down for 2 days right. ??
Collateral value shouldn’t change imo. new units are still receivable against the old ones. Its just incorrect P&L bcos of the way they use ltp.
I think it changes. Because if the units are not in my demat how can I get margin against it.
Market value of existing units has been reduced to 1/10th.
Motilal Oswal Nasdaq 100 ETF had done a split as well.