Description
Updates to Enhanced Surveillance Measure framework with securities being added, moved between stages, and consolidated list effective September 11, 2025.
Summary
BSE has updated the Enhanced Surveillance Measure (ESM) Framework effective September 11, 2025. The circular includes securities being newly added to ESM, securities moving to higher ESM stages, and a consolidated list of all securities currently under ESM with their respective stages.
Key Points
- 2 securities newly shortlisted for ESM Framework: BCC Fuba India Ltd and PVP Ventures Ltd
- 3 securities moving to higher ESM stages: Fynx Capital Ltd, Refex Renewables & Infrastructure Ltd, and Sea TV Network Ltd
- No securities moving to lower ESM stages
- No securities moving out of ESM Framework
- Consolidated list shows 30+ securities across ESM Stage I and Stage II
Regulatory Changes
Enhanced Surveillance Measure framework updates with revised classifications and stage movements for specific securities to ensure better market surveillance and investor protection.
Compliance Requirements
- Trading members and investors should note the ESM status of affected securities
- Enhanced surveillance measures will apply to all listed securities as per their assigned ESM stages
- Market participants must comply with additional surveillance requirements for ESM securities
Important Dates
- Effective Date: September 11, 2025 - All ESM framework changes take effect
Impact Assessment
The ESM framework updates will result in enhanced monitoring and surveillance of the affected securities. Trading in these securities may be subject to additional scrutiny and compliance requirements. Investors should exercise caution when trading ESM securities and be aware of the enhanced surveillance measures in place.
Impact Justification
Regular ESM framework updates affecting specific securities with trading implications for listed companies