Description

BSE releases updated list of 14 Investment Companies and Investment Holding Companies eligible for special call-auction trading mechanism as of October 15, 2025.

Summary

BSE has published the updated list of 14 Investment Companies (ICs) and Investment Holding Companies (IHCs) that are eligible for special call-auction trading mechanism as of October 15, 2025. The list includes detailed information on last traded prices, standalone book values, book values based on investments in other listed companies, proportion of assets invested in listed companies, and any buyback or delisting prices offered.

Key Points

  • 14 companies are currently eligible for special call-auction mechanism
  • Elcid Investments Limited has the highest last traded price at ₹130,300.00
  • Kama Holdings Limited shows the highest proportion of assets invested in other listed companies at 4800%
  • TVS Holdings Limited has 2090% proportion of assets in listed companies
  • All listed companies have “Nil” for latest buyback or delisting offers
  • Data reflects standalone financials as on March 31, 2025
  • Price data is current as of October 15, 2025

Companies Included

  1. TVS Holdings Limited (520056) - LTP: ₹13,575.90, Asset proportion: 2090%
  2. Maharashtra Scooters Limited (500266) - LTP: ₹17,219.95, Asset proportion: 99%
  3. Pilani Investment and Industries Corporation Limited (539883) - LTP: ₹5,258.15, Asset proportion: 89%
  4. Nalwa Sons Investment Limited (532256) - LTP: ₹7,644.80, Asset proportion: 58%
  5. Kalyani Investment Company Limited (533302) - LTP: ₹4,868.35, Asset proportion: 87%
  6. Vardhman Holdings Limited (500439) - LTP: ₹3,848.25, Asset proportion: 374%
  7. SIL Investments Limited (521194) - LTP: ₹618.85, Asset proportion: 82%
  8. Welspun Investments and Commercials Limited (533252) - LTP: ₹1,061.90, Asset proportion: 100%
  9. GFL Limited (500173) - LTP: ₹59.57, Asset proportion: 52%
  10. Kama Holdings Limited (532468) - LTP: ₹2,966.10, Asset proportion: 4800%
  11. Elcid Investments Limited (503681) - LTP: ₹130,300.00, Asset proportion: 91%
  12. Naperol Investments Limited (500298) - LTP: ₹909.25, Asset proportion: 98%
  13. Haryana Capfin Limited (532855) - LTP: ₹188.05, Asset proportion: 94%
  14. Easy Fincorp Limited (511074) - LTP: ₹990.00, Asset proportion: 95%

Regulatory Changes

No new regulatory changes announced. This is a periodic update of the existing list of ICs and IHCs eligible for special call-auction trading mechanism.

Compliance Requirements

  • Investment Companies and Investment Holding Companies must continue to meet eligibility criteria for special call-auction mechanism
  • Companies must maintain accurate disclosure of book values and asset composition
  • Financial data must be based on standalone financials as prescribed by BSE

Important Dates

  • Reference Date for Prices: October 15, 2025
  • Reference Date for Financial Data: March 31, 2025

Impact Assessment

Market Impact: Medium - Affects trading mechanism for 14 specific companies. Investors in these securities must use the special call-auction mechanism rather than regular market trading.

Transparency: The disclosure provides critical information showing significant divergence between market prices and book values for several companies, particularly those with high proportions of assets in other listed companies (e.g., Kama Holdings at 4800%, TVS Holdings at 2090%).

Investment Considerations: The data reveals that many of these investment companies trade at substantial premiums or discounts to their book values, with asset compositions heavily weighted toward investments in other listed entities. This information is essential for price discovery in the special call-auction mechanism.

Impact Justification

Regular disclosure of ICs/IHCs eligible for special call-auctions; provides transparency on book values and asset composition; affects trading mechanism for 14 specific companies