Description

BSE announces changes to Long Term ASM Framework including new securities added, securities moved between stages, and securities exiting the framework effective September 8, 2025.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective September 8, 2025. The circular details securities being newly added to the framework, those moving between different ASM stages, and securities exiting the framework.

Key Points

  • 3 securities newly shortlisted for Long Term ASM Framework
  • 3 securities moved to lower ASM Stage I from higher stages
  • 18 securities moving out of Long Term ASM Framework
  • No securities moved to higher ASM stages or direct Stage IV
  • Changes effective from September 8, 2025

Regulatory Changes

New Securities in LT-ASM Framework:

  • Astron Paper & Board Mill Ltd (540824)
  • CarTrade Tech Ltd (543333)
  • Disha Resources Ltd (531553)

Securities Moved to Lower ASM Stage I:

  • ASM Technologies Ltd (526433)
  • Ladam Affordable Housing Ltd (540026)
  • Vantage Knowledge Academy Ltd (539761)

Securities Exiting LT-ASM Framework: 18 securities including IFCI Ltd, MMTC Ltd, Mangalore Chemicals & Fertilizers Ltd, and others due to various reasons including inclusion in other frameworks (Trade for Trade, GSM, ESM, IBC).

Compliance Requirements

  • Trading members and investors must be aware of surveillance measures applicable to affected securities
  • Securities in LT-ASM Framework are subject to enhanced monitoring and specific trading conditions
  • Compliance with respective ASM stage requirements for securities moved between stages

Important Dates

  • Effective Date: September 8, 2025 - All LT-ASM Framework changes become applicable

Impact Assessment

  • Trading Impact: Securities entering LT-ASM Framework will face enhanced surveillance measures
  • Liquidity Impact: Medium impact on affected securities due to surveillance conditions
  • Market Operations: Systematic monitoring of 22+ securities with changed surveillance status
  • Investor Awareness: Need for increased due diligence on securities under surveillance measures

Impact Justification

Affects multiple securities with surveillance measure changes that impact trading conditions