Description

BSE announces addition of Brahmaputra Infrastructure Ltd to the high encumbrance surveillance framework effective October 14, 2025. The consolidated list now includes 5 securities under this measure.

Summary

BSE has updated its surveillance framework for companies with high promoter and non-promoter encumbrance as per Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation 2011. Effective October 14, 2025, Brahmaputra Infrastructure Ltd (Scrip Code: 535693, ISIN: INE320I01017) has been added to this surveillance measure. No securities are being removed from the framework. The consolidated list now comprises 5 securities subject to this enhanced monitoring.

Key Points

  • One security added to high encumbrance surveillance framework: Brahmaputra Infrastructure Ltd
  • No securities moving out of the framework
  • Effective date: October 14, 2025
  • Total securities under this measure: 5 companies
  • Framework based on SEBI (SAST) Regulation 2011, Regulation 28(3)

Regulatory Changes

This circular implements surveillance measures under SEBI (SAST) Regulation 2011, specifically Regulation 28(3), which addresses disclosure requirements for encumbrance of shares. The framework targets companies where both promoter and non-promoter shareholdings show high levels of encumbrance (pledging or other forms of security interest).

Compliance Requirements

  • Trading members must take note of the updated list of securities under high encumbrance surveillance
  • Enhanced monitoring and reporting requirements apply to the listed securities
  • Market participants should exercise heightened caution when dealing in these securities
  • Companies under this measure must maintain compliance with SEBI disclosure norms regarding encumbrance

Important Dates

  • Effective Date: October 14, 2025 - New surveillance measure becomes applicable

Impact Assessment

Market Impact: The addition of Brahmaputra Infrastructure Ltd signals regulatory concern about elevated encumbrance levels in the company. High promoter and non-promoter pledging typically indicates financial stress or leverage, which can impact share price stability and investor confidence.

Securities Affected: The consolidated framework now covers 5 securities:

  1. Brahmaputra Infrastructure Ltd (newly added)
  2. DJS Stock & Shares Ltd
  3. Future Market Networks Ltd
  4. India Finsec Ltd
  5. Thyrocare Technologies Ltd

Operational Impact: Enhanced surveillance may result in additional reporting obligations, increased scrutiny of trading patterns, and potential trading restrictions if encumbrance levels worsen. Investors in these securities should monitor corporate governance disclosures closely.

Impact Justification

Addition of one security to high encumbrance surveillance framework indicates elevated risk monitoring but affects limited number of securities