Description

BSE announces changes to securities under Long Term ASM Framework effective October 27, 2025, including new additions, movements between stages, and securities moving out of the framework.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective October 27, 2025. Two securities have been newly shortlisted for LT-ASM, three securities are moving to different ASM stages while remaining in the framework, and 18 securities are exiting the LT-ASM framework. Securities under LT-ASM face enhanced surveillance and trading restrictions aimed at protecting investor interests.

Key Points

  • 2 securities newly shortlisted in Long Term ASM Framework: Arcee Industries Ltd and Betex India Ltd
  • 3 securities moving to different ASM stages: Lexoraa Industries Ltd (moved to Stage I), KIOCL Ltd and KIOCL Ltd~ (both moved to Stage III)
  • 18 securities moving out of Long Term ASM Framework due to various reasons including inclusion in Trade for Trade, GSM, ESM, or IBC frameworks
  • No securities being moved directly to Stage IV ASM
  • Changes effective from October 27, 2025

Regulatory Changes

The Long Term ASM Framework is designed to alert investors about securities that have been consistently exhibiting abnormal price movements or have been identified for enhanced surveillance. Securities under this framework face additional trading restrictions and surveillance measures based on their stage classification (Stage I through Stage IV).

Compliance Requirements

For Trading Members:

  • Update systems to reflect new LT-ASM classifications effective October 27, 2025
  • Apply appropriate surveillance measures and trading restrictions for newly added securities
  • Adjust trading conditions for securities moving between ASM stages

For Investors:

  • Exercise increased caution when trading securities newly added to or continuing in LT-ASM
  • Be aware that securities in LT-ASM may have restrictions such as reduced price bands, trade-for-trade settlements, or additional margin requirements
  • Review the stage classification as higher stages impose stricter surveillance measures

Important Dates

  • October 27, 2025: Effective date for all LT-ASM changes including new additions, stage movements, and exits from the framework

Impact Assessment

Market Impact:

  • Trading liquidity may be affected for the 2 newly added securities (Arcee Industries Ltd, Betex India Ltd) due to enhanced surveillance measures
  • 18 securities exiting LT-ASM may see improved trading conditions, though some are moving to other surveillance frameworks (GSM, ESM, IBC, or Trade for Trade)
  • Securities moving to lower ASM stages (Lexoraa Industries, KIOCL) will face relatively relaxed surveillance compared to their previous stage

Investor Impact:

  • Investors holding or trading the affected securities should review their positions and understand the implications of surveillance measures
  • Enhanced surveillance aims to protect investors but may result in reduced liquidity and wider bid-ask spreads
  • Securities exiting LT-ASM marked with special symbols ($, #, &, *) are transitioning to other surveillance frameworks and will continue to face restrictions

Securities Details

Part A - Newly Shortlisted (Stage I):

  1. Arcee Industries Ltd (520121, INE276D01012)
  2. Betex India Ltd (512477, INE765L01017)

Part C - Moving to Lower Stages:

  1. Lexoraa Industries Ltd (531944) - Moving to Stage I
  2. KIOCL Ltd (540680, 140680) - Moving to Stage III

Part D - Securities Exiting LT-ASM: AksharChem India Ltd, Amal Ltd, Aravali Securities & Finance Ltd, CHL Ltd, Chrome Silicon Ltd, Envair Electrodyne Ltd, Hindustan Appliances Ltd, IP Rings Ltd, Jagjanani Textiles Ltd, KZ Leasing & Finance Ltd, Nam Securities Ltd, National Oxygen Ltd, Parmax Pharma Ltd, Quint Digital Ltd, Radhe Developers India Ltd, Shristi Infrastructure Development Corporation Ltd, SML Isuzu Ltd, Sundaram Brake Linings Ltd

Impact Justification

Affects trading conditions for multiple securities through enhanced surveillance measures, with 2 new additions and 18 securities moving out of LT-ASM framework