Description

BSE announces addition of India Finsec Ltd to the surveillance framework for companies with high promoter and non-promoter encumbrance effective October 09, 2025.

Summary

BSE has updated the list of securities under surveillance measures for companies with high promoter and non-promoter encumbrance as per Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. India Finsec Ltd (Scrip Code: 535667, ISIN: INE474O01010) has been added to this framework effective October 09, 2025. No securities are being removed from this measure.

Key Points

  • India Finsec Ltd added to high encumbrance surveillance framework effective October 09, 2025
  • No securities moving out of the framework currently
  • Consolidated list now includes 4 securities: DJS Stock & Shares Ltd, Future Market Networks Ltd, India Finsec Ltd, and Thyrocare Technologies Ltd
  • Measure applies to companies with high levels of pledged shares by both promoters and non-promoters
  • Framework based on SEBI (SAST) Regulation 2011, Regulation 28(3)

Regulatory Changes

This circular implements ongoing surveillance measures under existing SEBI regulations rather than introducing new regulatory changes. The framework monitors companies where significant shareholding by promoters and non-promoters is encumbered (pledged), which may indicate financial stress or potential governance concerns.

Compliance Requirements

  • Securities added to this framework are subject to enhanced surveillance by the exchange
  • Trading members and investors should exercise appropriate due diligence when dealing in these securities
  • Companies on this list must comply with disclosure requirements under SEBI (SAST) Regulations regarding encumbrance of shares
  • Market participants should monitor developments related to pledge levels in these companies

Important Dates

  • Effective Date: October 09, 2025 - India Finsec Ltd enters the high encumbrance surveillance framework
  • Circular Date: October 08, 2025

Impact Assessment

Market Impact: Limited to specific securities identified. The addition of India Finsec Ltd to surveillance may result in increased scrutiny from investors and potential impact on trading volumes or volatility for this stock.

Investor Impact: Investors holding or trading in India Finsec Ltd should be aware of the enhanced surveillance status, which signals elevated risks related to high promoter/non-promoter encumbrance levels.

Operational Impact: Trading in the identified securities continues normally but under enhanced monitoring. Market participants should factor in the elevated risk profile when making investment decisions in these securities.

Systemic Significance: This is a routine surveillance measure affecting a small number of securities. The consolidated list of 4 securities represents a limited subset of the overall market.

Impact Justification

Addition of one security to high encumbrance surveillance framework; affects specific companies with pledged shares but has limited broader market impact