Description

BSE announces movement of securities into different GSM stages, with Shakti Press Ltd moving to Stage I and International Data Management moving to Stage IV.

Summary

BSE has announced the movement of securities into different stages of the Graded Surveillance Measure (GSM) framework. Two securities are being moved to higher GSM stages: Shakti Press Ltd. (Security Code: 526841, ISIN: INE794C01016) is moving to GSM Stage I, and International Data Management (Security Code: 517044, ISIN: INE649R01010) is moving to GSM Stage IV.

Key Points

  • Shakti Press Ltd. (526841) moves to GSM Stage I
  • International Data Management (517044) moves to GSM Stage IV
  • Securities marked with (#) may move to lower GSM stages due to ESM Framework inclusion
  • Securities marked with ($) may move to lower GSM stages due to IBC Framework inclusion
  • Some classifications follow NSE standards

Regulatory Changes

The GSM framework applies enhanced surveillance measures to securities based on their risk profile and market behavior. Movement to higher GSM stages typically involves increased margin requirements and trading restrictions.

Compliance Requirements

  • Trading members must ensure compliance with enhanced margin requirements for GSM securities
  • Investors should be aware of additional trading restrictions that may apply
  • Market participants must adhere to the surveillance measures applicable to each GSM stage

Important Dates

Effective date: August 29, 2025 (as per circular date)

Impact Assessment

The placement of these securities in higher GSM stages will result in increased trading costs through higher margins and may reduce liquidity due to enhanced surveillance measures. Investors in these securities should expect modified trading conditions and potential impact on price discovery mechanisms.

Impact Justification

GSM placement affects trading conditions and investor participation for specific securities