IOC dividend more than 5%

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You can check out this post to know how adjustment is carried out in case of extraordinary dividend:

Adjustment of F&O contracts in REC Limited

The Board of Directors of REC Limited at its meeting held on November 06, 2020, declared an interim dividend of Rs. 6 per share, the ex-dividend date being November 13, 2020. SEBI has prescribed a framework to the exchanges for adjustment of corporate actions in derivative contracts at the time of the corporate action. The exchange has published everything regarding the adjustments in case of corporate actions here. Accordingly, if a company declares a dividend at and above 5% of the market val…