Description

BSE circular listing securities moving to different GSM stages, with 3 companies moving to Stage I and 1 company moving to Stage II.

Summary

BSE has updated the Graded Surveillance Measure (GSM) framework, moving four securities to different GSM stages. Three companies - Parker Agrochem Exports Ltd., Si Capital & Financial Service, and Golechha Global Finance Ltd. - have been moved to GSM Stage I, while Photon Capital Advisors Ltd. has been moved to GSM Stage II.

Key Points

  • 4 securities affected by GSM stage changes
  • 3 securities moved to GSM Stage I (enhanced surveillance)
  • 1 security moved to GSM Stage II (stricter surveillance)
  • Framework includes provisions for securities under ESM and IBC frameworks

Regulatory Changes

Implementation of graded surveillance measures with different stages of monitoring and trading restrictions based on security performance and compliance.

Compliance Requirements

  • Trading members must be aware of enhanced surveillance conditions
  • Securities under GSM stages may have specific trading restrictions
  • Market participants should monitor these securities closely

Important Dates

  • Circular date: September 5, 2025
  • Changes effective as per BSE notification

Impact Assessment

Securities moved to GSM stages will face enhanced monitoring and potential trading restrictions. Stage I represents initial surveillance while Stage II indicates stricter oversight. This may affect liquidity and trading volumes for the affected securities.

Impact Justification

Affects trading conditions for specific securities under enhanced surveillance