Description

BSE updates Long Term ASM framework with securities being added, moved between stages, and removed from surveillance measures effective August 13, 2025.

Summary

BSE has updated its Long Term Additional Surveillance Measure (LT-ASM) framework effective August 13, 2025. The circular provides comprehensive lists of securities being newly added to LT-ASM, moved between different ASM stages, and removed from the framework.

Key Points

  • 3 securities newly shortlisted in Long Term ASM Framework: Indian Infotech & Software Ltd, KG Denim Ltd, and Sirohia & Sons Ltd
  • 1 security (B-Right Realestate Ltd) moved to higher ASM Stage II
  • 2 securities (Avi Products India Ltd and Mirc Electronics Ltd) moved out of LT-ASM Framework
  • Consolidated list includes 15+ securities across various ASM stages
  • Framework changes apply to securities based on various criteria including promoter holding and trading patterns

Regulatory Changes

  • Securities in LT-ASM Framework are subject to additional surveillance measures
  • Stage-wise progression system with different levels of monitoring
  • Securities can move between stages or exit the framework based on compliance
  • Special provisions for T+0 scrips and securities marked for various reasons

Compliance Requirements

  • Trading members must comply with enhanced surveillance requirements for listed securities
  • Securities under LT-ASM may have additional margin requirements
  • Investors should be aware of enhanced monitoring and potential trading restrictions
  • Periodic review and compliance with ASM framework guidelines

Important Dates

  • Effective Date: August 13, 2025 - All LT-ASM framework changes become applicable

Impact Assessment

  • Trading Impact: Securities under LT-ASM may experience reduced liquidity due to enhanced surveillance
  • Investor Impact: Additional compliance requirements and potential trading restrictions for affected securities
  • Market Impact: Enhanced surveillance helps maintain market integrity by monitoring securities with irregular trading patterns
  • Compliance Impact: Trading members need to ensure adherence to updated ASM requirements for affected securities

Impact Justification

Regular surveillance framework update affecting multiple securities with trading restrictions