Description
BSE announces movement of 5 securities across different GSM stages, with one security moving out due to IBC framework inclusion.
Summary
BSE has announced changes in Graded Surveillance Measure (GSM) classifications for 5 securities effective immediately. The changes include movements across different GSM stages (0, I, II, III) with one security moving out of GSM framework due to inclusion in IBC framework.
Key Points
- 5 securities are moving to different GSM stages
- Setubandhan Infrastructure Ltd moves to GSM Stage 0 due to IBC framework inclusion
- Explicit Finance Ltd moves to GSM Stage I
- Venmax Drugs and Pharmaceuticals Ltd moves to GSM Stage II
- International Data Management Ltd and ANS Industries Ltd move to GSM Stage III
- Securities marked with ($) move to lower GSM stages due to IBC framework inclusion
Regulatory Changes
The GSM framework continues to operate with different surveillance stages (0, I, II, III) based on risk assessment. Securities under IBC framework receive different treatment under GSM classification.
Compliance Requirements
- Trading members must note the new GSM classifications
- Enhanced surveillance measures apply based on respective GSM stages
- Different trading restrictions and monitoring levels apply to each GSM stage
Important Dates
- Effective Date: August 28, 2025 (immediate implementation)
Impact Assessment
The GSM stage changes will affect trading conditions for these securities, with higher stages (II, III) typically having more stringent surveillance measures including higher margins, reduced position limits, and additional monitoring requirements. Stage 0 indicates removal from active GSM surveillance.
Impact Justification
Affects trading conditions for 5 securities with varying surveillance levels