Description

BSE updates Enhanced Surveillance Measure framework with new securities additions and stage movements effective September 5, 2025.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective September 5, 2025. The circular includes three new securities being added to ESM, five securities moving to higher ESM stages, and provides a consolidated list of all securities currently under the ESM framework.

Key Points

  • 3 new securities added to Enhanced Surveillance Measure framework
  • 5 existing ESM securities moving to higher surveillance stages
  • No securities moving to lower ESM stages
  • No securities exiting the ESM framework
  • Consolidated list shows securities across different ESM stages (Stage I and Stage II)

New Securities Added to ESM

Effective September 5, 2025:

  • Aryaman Financial Services Ltd (Code: 530245, ISIN: INE032E01017)
  • Ekennis Software Service Ltd (SME) (Code: 543475, ISIN: INE0KCM01010)
  • Sahara Maritime Ltd (SME) (Code: 544056, ISIN: INE0PSJ01011)

Securities Moving to Higher ESM Stages

Moving to Stage II:

  • A2Z Infra Engineering Ltd (Code: 533292, ISIN: INE619I01012)
  • Indiabulls Enterprises Ltd (Code: 543715, ISIN: INE059901020)
  • Indokem Ltd (Code: 504092, ISIN: INE716F01012)
  • SVS Ventures Ltd (SME) (Code: 543745, ISIN: INE0MID01012)
  • Umiya Tubes Ltd (Code: 539798, ISIN: INE173U01015)

Compliance Requirements

  • Securities under ESM framework are subject to enhanced monitoring and reporting requirements
  • Trading in these securities may have additional restrictions or conditions
  • Market participants must comply with specific surveillance measures for these securities

Important Dates

  • Effective Date: September 5, 2025
  • All ESM framework changes become applicable from market opening on September 5, 2025

Impact Assessment

The ESM framework implementation affects trading liquidity and investor sentiment for the specified securities. Securities under higher ESM stages face increased scrutiny and potential trading restrictions, which may impact their market performance and investor participation.

Impact Justification

Affects trading conditions for specific securities under enhanced surveillance framework