Description

BSE circular on securities entering, continuing in, and exiting the Long Term Additional Surveillance Measure framework effective October 08, 2025.

Summary

BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 08, 2025. Seven securities are newly shortlisted for LT-ASM, one security (Sumeet Industries Ltd) has been placed directly into Stage IV, and no securities are exiting the framework. The circular provides consolidated lists of all securities currently under various ASM stages.

Key Points

  • 7 securities newly shortlisted in LT-ASM Framework: Deep Diamond India Ltd, Gold Coin Health Foods Ltd, KIOCL Ltd (both scrip codes), MPIL Corporation Ltd, Skyline Ventures India Ltd, and Virtual Global Education Ltd
  • Sumeet Industries Ltd (Scrip Code: 514211) placed directly in LT-ASM Stage IV as per notice no.20210604-41
  • No securities moving to higher or lower ASM stages within LT-ASM framework
  • No securities exiting LT-ASM framework in this update
  • KIOCL Ltd has two scrip codes (540680 and 140680) both included, with T+0 scrip marked separately
  • Consolidated list provided showing securities across all ASM stages (starting with Stage I listings)

Regulatory Changes

The Long Term ASM framework applies enhanced surveillance measures to securities that meet specific criteria related to price volatility, volume patterns, or other market integrity concerns. Securities under LT-ASM face additional trading restrictions designed to protect investors and maintain market stability.

Compliance Requirements

  • Trading members must ensure compliance with LT-ASM framework requirements for the affected securities
  • Enhanced due diligence and investor awareness measures apply to these securities
  • Different ASM stages may have varying levels of surveillance measures including margin requirements and price bands
  • Stage IV securities face the strictest surveillance measures under the framework

Important Dates

  • Effective Date: October 08, 2025 - New LT-ASM classifications become applicable

Impact Assessment

Market Impact: Medium - The addition of 7 securities to LT-ASM and one to direct Stage IV indicates heightened regulatory scrutiny. These measures typically result in reduced liquidity and increased trading costs for affected securities.

Investor Impact: Investors holding or trading these securities will face additional restrictions and should exercise enhanced caution. The surveillance measures are protective in nature but may impact trading flexibility.

Operational Impact: Brokers and trading members need to update their systems and risk management frameworks to account for the LT-ASM status of these securities, including any applicable margin requirements and position limits.

Impact Justification

Affects trading conditions for specific securities under LT-ASM framework with enhanced surveillance measures for investor protection