Description
BSE announces surveillance measures for companies with high promoter and non-promoter encumbrance as per SEBI SAST Regulation 28(3), effective August 25, 2025.
Summary
BSE has updated the list of securities subject to surveillance measures for companies with high promoter and non-promoter encumbrance as per Regulation 28(3) of SEBI (SAST) Regulation 2011, effective August 25, 2025. One new security has been added while the consolidated list now contains 7 securities.
Key Points
- Tourism Finance Corporation of India Ltd added to the surveillance framework
- No securities are moving out of the framework in this update
- Consolidated list maintains 7 securities under surveillance
- Framework applies to companies with high encumbrance levels
Regulatory Changes
- Addition of Tourism Finance Corporation of India Ltd (Scrip Code: 526650, ISIN: INE305A01015)
- Framework continues under SEBI (SAST) Regulation 2011, Regulation 28(3)
- Some securities may move out due to inclusion in LT ASM or ESM frameworks
Compliance Requirements
- Securities under this framework are subject to enhanced surveillance measures
- Companies must comply with disclosure requirements under SEBI SAST regulations
- Investors should be aware of encumbrance-related risks in these securities
Important Dates
- Effective Date: August 25, 2025
- Measures apply to all securities listed in the consolidated framework
Impact Assessment
- Market Impact: Limited to 7 specific securities
- Investor Impact: Enhanced surveillance may affect trading patterns
- Compliance Impact: Companies must maintain disclosure standards regarding encumbrance
- Risk Assessment: Framework identifies securities with elevated encumbrance risks
Impact Justification
Affects specific securities under surveillance framework but limited to 7 companies