Description

BSE announces movement of securities in and out of Enhanced Surveillance Measure framework with one new addition and stage changes effective August 14, 2025.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective August 14, 2025, adding one new security (Spice Islands Industries Ltd) and moving Galaxy Cloud Kitchens Ltd to a higher ESM stage. The consolidated list shows 33+ securities currently under various ESM stages with enhanced monitoring and trading restrictions.

Key Points

  • One new security added to ESM framework: Spice Islands Industries Ltd (Scrip Code: 526827)
  • Galaxy Cloud Kitchens Ltd (Scrip Code: 506186) moved to higher ESM stage
  • No securities moved to lower ESM stages or exited the framework
  • Consolidated list maintains 33+ securities across ESM Stage I and II
  • Framework includes both main board and SME securities

Regulatory Changes

  • Enhanced surveillance measures applied to newly added security
  • Stricter monitoring for Galaxy Cloud Kitchens Ltd due to stage elevation
  • Continued application of existing ESM framework rules

Compliance Requirements

  • Trading members must ensure compliance with ESM framework requirements
  • Enhanced due diligence required for transactions in listed securities
  • Adherence to specific trading restrictions and monitoring protocols
  • Compliance with disclosure and reporting requirements for ESM securities

Important Dates

  • August 14, 2025: Effective date for all ESM framework changes
  • August 13, 2025: Circular issue date

Impact Assessment

Trading Impact: Securities under ESM face enhanced monitoring, potential trading restrictions, and increased compliance requirements. New addition and stage changes may affect liquidity and trading volumes for affected securities.

Market Impact: Limited scope with only two securities affected, minimal broader market impact expected. Continued surveillance framework maintains market integrity and investor protection.

Impact Justification

Affects trading conditions for specific securities under surveillance but limited scope with only two securities having changes