Description

BSE announces inclusion of India Finsec Ltd in the high encumbrance framework effective October 09, 2025. Consolidated list now includes 4 securities under this surveillance measure.

Summary

BSE has implemented surveillance measures under Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 for companies with high promoter and non-promoter encumbrance. Effective October 09, 2025, India Finsec Ltd (Scrip Code: 535667, ISIN: INE474O01010) has been added to this framework. No securities are moving out of the framework. The consolidated list now contains 4 securities under this surveillance measure.

Key Points

  • India Finsec Ltd added to high encumbrance surveillance framework effective October 09, 2025
  • No securities are being removed from the framework in this update
  • Total of 4 securities now under this surveillance measure
  • Framework applies to companies with high promoter as well as non-promoter encumbrance levels
  • Measure implements SEBI (SAST) Regulation 2011, Regulation 28(3)

Regulatory Changes

This circular implements ongoing surveillance under existing SEBI (SAST) Regulations 2011, specifically Regulation 28(3) which deals with encumbrance of shares. The framework identifies and monitors companies where both promoter and non-promoter shareholdings have high levels of pledging or encumbrance, which could pose risks to shareholder interests and market stability.

Compliance Requirements

  • Investors trading in the affected securities should be aware of the heightened surveillance status
  • Companies under this framework are subject to enhanced monitoring by the exchange
  • Trading members should inform their clients about the surveillance status of these securities
  • Affected companies must continue to comply with disclosure requirements regarding encumbrance under SEBI regulations

Important Dates

  • Effective Date: October 09, 2025 - India Finsec Ltd enters the high encumbrance surveillance framework

Impact Assessment

Market Impact: Medium - The addition of one security to the framework represents targeted regulatory action. While the immediate market impact is limited to India Finsec Ltd, the measure signals regulatory concern about pledge levels.

Investor Impact: Investors in India Finsec Ltd should exercise caution due to high encumbrance levels in both promoter and non-promoter holdings. High pledging can lead to forced selling if share prices decline significantly.

Consolidated Framework: The framework now monitors 4 securities:

  1. DJS Stock & Shares Ltd (511636)
  2. Future Market Networks Ltd (533296)
  3. India Finsec Ltd (535667) - NEW
  4. Thyrocare Technologies Ltd (539871)

Operational Impact: Enhanced surveillance may result in additional scrutiny of trading patterns and corporate actions for affected securities.

Impact Justification

Surveillance measure affecting one new security (India Finsec Ltd) due to high promoter and non-promoter encumbrance. Limited immediate impact but signals regulatory concern about pledge levels in affected companies.