Description

BSE announces group reclassification for Vardhman Holdings Limited from trade-for-trade to Group B, and continuation of trade-for-trade status for four other investment companies.

Summary

BSE has announced changes in group classification for equity shares of Investment Companies (ICs) and Investment Holding Companies (IHCs). Vardhman Holdings Limited will be transferred from trade-for-trade segment to Group B effective November 20, 2025. Four other companies will continue trading in trade-for-trade segment with call auction until further notice.

Key Points

  • Vardhman Holdings Limited (Scrip Code: 500439) to be moved from trade-for-trade to Group B
  • Effective date for Vardhman Holdings group change: November 20, 2025
  • Four companies to remain in trade-for-trade segment with call auction: Kama Holdings Limited, Elcid Investments Limited, Haryana Capfin Limited, and Easy Fincorp Limited
  • This notice continues previous communications dated November 3, 2025 and October 15, 2025

Regulatory Changes

The exchange is implementing differential treatment for investment companies based on their trading characteristics. Companies meeting certain criteria are being moved from restrictive trade-for-trade segments to regular trading groups, while others remain under enhanced surveillance.

Compliance Requirements

  • Trading members must note the group change for Vardhman Holdings Limited effective November 20, 2025
  • Members must continue treating the four specified companies under trade-for-trade with call auction rules
  • Members should contact Shyam Bhagirath (022-22728013) for any clarifications

Important Dates

  • Notice Date: November 6, 2025
  • Effective Date for Group Change: November 20, 2025 (Vardhman Holdings Limited)
  • Trade-for-Trade Continuation: Until further notice (for the four specified companies)

Impact Assessment

Market Impact: Medium - The reclassification of Vardhman Holdings to Group B will improve liquidity and trading flexibility for that stock. The continued trade-for-trade status for the other four companies maintains existing restrictions on their trading.

Companies Affected:

  1. Moving to Group B: Vardhman Holdings Limited (500439)
  2. Remaining in Trade-for-Trade:
    • Kama Holdings Limited (532468) - Group T
    • Elcid Investments Limited (503681) - Group T
    • Haryana Capfin Limited (532855) - Group XT
    • Easy Fincorp Limited (511074) - Group Z

Operational Impact: Trading members need to update their systems and processes to reflect the group change for Vardhman Holdings by November 20, 2025.

Impact Justification

Affects trading arrangements for investment companies; one company moving to normal trading while four remain in restricted trade-for-trade segment