Description

BSE circular announcing securities subject to surveillance measures due to high promoter and non-promoter encumbrance as per SEBI (SAST) Regulation 2011, Reg. 28(3), effective November 07, 2025.

Summary

BSE has issued a circular regarding surveillance measures for companies with high promoter and non-promoter share encumbrance under Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. One security, Onelife Capital Advisors Ltd, has been added to this framework effective November 07, 2025. The consolidated list now includes two securities under this measure.

Key Points

  • Onelife Capital Advisors Ltd (Scrip Code: 533632, ISIN: INE912L01015) added to high encumbrance surveillance framework
  • No securities are moving out of the framework in this update
  • Framework applies to companies with high levels of both promoter and non-promoter share pledging/encumbrance
  • Measure invoked under SEBI (SAST) Regulation 2011, Reg. 28(3)
  • Consolidated list contains 2 securities: India Finsec Ltd and Onelife Capital Advisors Ltd

Regulatory Changes

This circular implements surveillance measures under SEBI (SAST) Regulations 2011, specifically Regulation 28(3), which addresses situations where shares are encumbered. High encumbrance levels indicate elevated financial risk as promoter/non-promoter shares are pledged as collateral, potentially leading to forced sales if underlying obligations are not met.

Compliance Requirements

  • Trading members and investors should note the inclusion of Onelife Capital Advisors Ltd in the high encumbrance surveillance framework
  • Special trading restrictions and surveillance measures will apply to securities under this framework
  • Market participants should exercise heightened caution when trading in these securities
  • Continuous monitoring of encumbrance levels is required for listed companies

Important Dates

  • Effective Date: November 07, 2025 - Surveillance measures for listed securities become applicable

Impact Assessment

Market Impact: High - Securities under this framework face restricted trading conditions and heightened scrutiny, which typically results in reduced liquidity and increased volatility.

Investor Impact: High - Investors in Onelife Capital Advisors Ltd face increased risk due to high share encumbrance levels. Potential for forced selling of pledged shares if promoters/shareholders fail to meet obligations.

Operational Impact: Medium - Trading members must implement additional surveillance and risk management protocols for affected securities.

Securities Affected:

  • Onelife Capital Advisors Ltd (533632) - Newly added
  • India Finsec Ltd (535667) - Continues in framework

Impact Justification

High encumbrance levels pose significant risk to investors and can lead to forced selling. Surveillance measures restrict trading and liquidity. Affects Onelife Capital Advisors Ltd newly added to framework.