Description

BSE updates the list of securities under Long Term Additional Surveillance Measure framework, with changes effective October 09, 2025.

Summary

BSE has issued an updated list of securities subject to Long Term Additional Surveillance Measure (LT-ASM) framework effective October 09, 2025. The circular identifies 4 securities newly shortlisted for LT-ASM, 3 securities moving to higher ASM stages, 3 securities entering direct Stage IV, and 2 securities moving out of the framework due to inclusion in ESM Framework.

Key Points

  • 4 new securities shortlisted in Long Term ASM Framework: Bharat Seats Ltd, Earthstahl & Alloys Ltd, GTT Data Solutions Ltd, and Sujala Trading & Holdings Ltd
  • 3 securities moved to higher ASM stages: Ambo Agritec Ltd (to Stage III), Mcleod Russel India Ltd (to Stage II), Sunrakshakk Industries India Ltd (to Stage II)
  • 3 securities placed directly in Stage IV: Indo Thai Securities Ltd, KIOCL Ltd (including T+0 scrip)
  • 2 securities moving out of LT-ASM due to ESM Framework inclusion: Hiliks Technologies Ltd and Sahara Housingfina Corporation Ltd
  • No securities moved to lower ASM stages
  • Changes effective from October 09, 2025

Regulatory Changes

The Long Term ASM Framework continues to apply enhanced surveillance measures to securities meeting specific criteria. Securities in this framework are subject to additional trading restrictions and monitoring based on their ASM stage (I through IV). Stage progression indicates increased surveillance levels.

Compliance Requirements

  • Investors and trading members must be aware of LT-ASM status for affected securities
  • Trading in LT-ASM securities is subject to stage-specific restrictions and requirements
  • Market participants should review the consolidated list of all securities currently under various ASM stages
  • Securities marked with special symbols (*, ^, ~, $, #, &) have specific conditions as noted in the circular

Important Dates

  • Effective Date: October 09, 2025 - All LT-ASM changes become applicable

Impact Assessment

The LT-ASM framework impacts liquidity and trading conditions for the listed securities. Securities entering higher stages face more stringent surveillance, which may affect investor participation and price discovery. The movement of securities between frameworks (LT-ASM to ESM) indicates deteriorating market conditions requiring enhanced regulatory oversight. Investors holding or trading these securities should be prepared for restricted trading conditions and increased monitoring.

Impact Justification

Affects trading conditions for multiple securities through enhanced surveillance measures, requiring investor awareness of restricted trading parameters