Description
BSE announces updates to the Long Term Additional Surveillance Measure framework with securities moving in and out of various ASM stages effective August 22, 2025.
Summary
BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective August 22, 2025. The circular includes securities being newly shortlisted, moved between ASM stages, moved to direct Stage IV, and removed from the framework entirely.
Key Points
- Citi Port Financial Services Ltd (531235) newly shortlisted in LT-ASM framework
- ASM Technologies Ltd (526433) moved to higher ASM Stage II
- BGR Energy Systems Ltd (532930) moved to direct Stage IV LT-ASM
- Arman Holdings Ltd (538556) removed from LT-ASM framework
- Comprehensive consolidated list of 17+ securities across different ASM stages provided
Regulatory Changes
The LT-ASM framework continues to operate with multiple stages (I, II, IV) with securities being moved between stages based on their performance and compliance metrics. Securities can be removed from the framework due to inclusion in other frameworks like Trade for Trade, GSM, ESM, or IBC.
Compliance Requirements
- Trading members must note the changed surveillance status of affected securities
- Enhanced due diligence required for securities under LT-ASM framework
- Compliance with respective ASM stage requirements for each listed security
Important Dates
- Effective Date: August 22, 2025 - All LT-ASM framework changes become effective
Impact Assessment
The changes affect trading conditions for multiple securities, with enhanced surveillance measures potentially impacting liquidity and trading volumes. Securities moved to higher ASM stages face stricter trading restrictions, while those removed from the framework may see improved trading conditions.
Impact Justification
Affects trading conditions for multiple securities under surveillance framework