Description
BSE circular announcing securities moving in and out of Long Term Additional Surveillance Measure framework effective August 19, 2025.
Summary
BSE has issued updated lists for the Long Term Additional Surveillance Measure (LT-ASM) framework effective August 19, 2025. The circular identifies securities being added to, removed from, or continuing within the LT-ASM framework with potential stage changes.
Key Points
- 2 securities newly shortlisted for LT-ASM: Esaar India Ltd and Transpact Enterprises Ltd
- 1 security moving out of LT-ASM: Decorous Investment & Trading Co Ltd (due to inclusion in GSM Framework)
- Consolidated list includes 17+ securities across different ASM stages
- No securities moving to higher or lower ASM stages
- No securities directly placed in Stage IV LT-ASM
Regulatory Changes
- Implementation of revised LT-ASM framework classifications
- Securities marked with special indicators for different frameworks (Trade for Trade, GSM, ESM, IBC)
- T+0 scrips specifically noted when shortlisted based on parent company criteria
Compliance Requirements
- Market participants must comply with enhanced surveillance measures for listed securities
- Securities in LT-ASM framework subject to additional monitoring and reporting requirements
- Adherence to stage-specific trading restrictions and margin requirements
Important Dates
- Effective Date: August 19, 2025 - All changes to LT-ASM framework become applicable
Impact Assessment
- Limited impact affecting only 3 securities with changes (2 additions, 1 removal)
- Enhanced surveillance may reduce liquidity and increase trading costs for affected securities
- Investors in Esaar India Ltd and Transpact Enterprises Ltd will face additional trading restrictions
- Decorous Investment & Trading Co Ltd investors benefit from LT-ASM removal but face GSM framework requirements
Impact Justification
Affects specific securities under enhanced surveillance but limited scope