Description
BSE updates Enhanced Surveillance Measure framework with new securities additions and stage movements effective August 13, 2025.
Summary
BSE has updated the Enhanced Surveillance Measure (ESM) framework effective August 13, 2025. Six new securities have been added to ESM Stage I, nine securities are being moved to higher ESM stages, and no securities are moving to lower stages or exiting the framework.
Key Points
- 6 new securities added to Enhanced Surveillance Measure (ESM) framework
- 9 securities moved to higher ESM stages due to continued non-compliance
- No securities moved to lower ESM stages
- No securities removed from ESM framework
- Changes effective from August 13, 2025
- Consolidated list shows securities across ESM Stage I and Stage II
Regulatory Changes
Enhanced Surveillance Measure framework updated with new inclusions and stage progressions based on securities’ compliance performance and risk assessment.
Compliance Requirements
- Securities under ESM face additional surveillance and monitoring
- Enhanced disclosure requirements for listed companies
- Stricter trading parameters and price monitoring
- Regular compliance reviews for continued ESM classification
Important Dates
- Effective Date: August 13, 2025 - All ESM changes become applicable
Impact Assessment
The ESM framework affects trading liquidity and investor sentiment for included securities. Companies face increased regulatory scrutiny and must demonstrate improved compliance to move to lower surveillance stages or exit the framework. Regular updates ensure market integrity and investor protection.
Impact Justification
Regular surveillance measure update affecting multiple securities with trading restrictions