Description

Composite scheme of amalgamation for Mangalore Chemicals & Fertilizers Limited with Paradeep Phosphates Limited, and demerger of Dalmia Bharat Sugar and Industries Limited's refractories business, resulting in multiple index exclusions and additions.

Summary

BSE has announced changes to multiple indices effective October 31, 2025, due to a composite scheme of amalgamation between Mangalore Chemicals & Fertilizers Limited (530011) and Paradeep Phosphates Limited (543530), and the demerger of Dalmia Bharat Sugar and Industries Limited’s (500097) refractories business. Additionally, Meghna Infracon Infrastructure Ltd. (538668) will be excluded from all BSE Indices effective November 4, 2025, due to its appearance in the GSM List.

Key Points

  • Mangalore Chemicals & Fertilizers Limited (530011) will be excluded from all BSE Indices effective October 31, 2025
  • Dalmia Bharat Sugar and Industries Ltd. (500097) will be excluded from all BSE Indices effective October 31, 2025
  • Dalmia Bharat Refractories Limited (demerged entity) will not be listed on BSE Ltd.
  • OneSource Specialty Pharma Ltd. (544292) and Aditya Birla Lifestyle Brands Ltd. (544403) added to BSE 1000, BSE 1000 MULTICAP, BSE NEXT 500, and BSE 250 MICROCAP indices
  • Teamlease Services Ltd. (539658) and NOCIL Ltd. (500730) dropped from BSE 250 MICROCAP but added to BSE NEXT 250 MICROCAP
  • Meghna Infracon Infrastructure Ltd. (538668) excluded from all BSE Indices effective November 4, 2025, due to GSM List appearance

Regulatory Changes

No regulatory changes. This is an operational adjustment to index composition based on corporate actions and surveillance measures.

Compliance Requirements

Market participants should note the index changes for portfolio rebalancing and derivative contract adjustments. These changes have been included in the end-of-day corporate action file (*.SDE).

Important Dates

  • October 31, 2025: Effective date for amalgamation/demerger related index changes
  • November 4, 2025: Effective date for exclusion of Meghna Infracon Infrastructure Ltd. from all BSE Indices

Impact Assessment

Affected Indices:

  • BSE ALLCAP: Excludes 530011, 500097, 538668
  • BSE SMALLCAP: Excludes 530011, 500097, 538668
  • BSE MIDSMALLCAP: Excludes 530011, 500097, 538668
  • BSE COMMODITIES: Excludes 530011
  • BSE FAST MOVING CONSUMER GOODS: Excludes 500097
  • BSE CONSUMER DISCRETIONARY: Excludes 538668
  • BSE 1000: Adds 544292, 544403; Drops 530011, 500097
  • BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%): Adds 544292, 544403; Drops 530011, 500097
  • BSE NEXT 500: Adds 544292, 544403; Drops 530011, 500097
  • BSE 250 MICROCAP: Adds 544292, 544403; Drops 539658, 500730
  • BSE NEXT 250 MICROCAP: Adds 539658, 500730; Drops 530011, 500097

Market Impact: Index fund managers and ETF providers tracking these indices will need to rebalance their portfolios. The amalgamation consolidates Mangalore Chemicals into Paradeep Phosphates, while the demerger of Dalmia Bharat’s refractories business (unlisted) reduces the parent company’s scope. The GSM listing of Meghna Infracon triggers automatic exclusion from all indices as per BSE surveillance protocols.

Impact Justification

Multiple index changes affecting various BSE indices due to corporate restructuring and GSM listing. Impacts index composition but routine nature of such changes.