Description

BSE updates on securities under Additional Surveillance Measure as per Insolvency and Bankruptcy Code (IBC), with Alps Industries Ltd being excluded from ASM effective November 11, 2025.

Summary

BSE has issued an update on securities under Additional Surveillance Measure (ASM) as per the Insolvency and Bankruptcy Code (IBC) framework. The circular announces that Alps Industries Ltd (Scrip Code: 530715, ISIN: INE093B01015) will be excluded from ASM effective November 11, 2025. No securities are being newly added to Stage 0 (receipt of corporate announcement), Stage 1, or Stage 2 of the IBC surveillance framework. The circular provides consolidated lists of securities currently under various stages of IBC monitoring.

Key Points

  • Alps Industries Ltd to be excluded from ASM for Companies under IBC effective November 11, 2025
  • No securities added to Stage 0 (Receipt of corporate announcement/disclosure) as of November 11, 2025
  • No securities added to Stage 1 (Additional Surveillance Measure for IRP) as of November 11, 2025
  • No securities moving from Stage 1 to Stage 2 or Stage 2 to Stage 1
  • Consolidated list includes 13+ securities currently under IBC surveillance at various stages
  • Securities include companies like A.F. Enterprises, Aban Offshore, AGS Transact Technologies, Alchemist, and others
  • Framework includes special markings for T+0 scrips and recommencement scrips

Regulatory Changes

No new regulatory changes introduced. This circular is a periodic update to the existing IBC surveillance framework maintained by BSE for securities of companies undergoing insolvency resolution processes.

Compliance Requirements

  • Market participants should note the exclusion of Alps Industries Ltd from ASM effective November 11, 2025
  • Trading members must be aware of securities under different stages of IBC surveillance for risk management
  • Investors should exercise caution when trading in securities under IBC surveillance measures
  • All securities remain subject to existing IBC framework surveillance protocols

Important Dates

  • November 11, 2025: Effective date for exclusion of Alps Industries Ltd from ASM
  • November 11, 2025: Effective date for all stage-wise lists mentioned in the circular

Impact Assessment

Market Impact: Low to medium. The exclusion of Alps Industries from ASM may improve trading conditions for this security. No new securities added to surveillance suggests stable conditions for existing listed companies.

Operational Impact: Minimal. Trading members need to update their surveillance lists to reflect the removal of Alps Industries from IBC ASM framework.

Investor Impact: Positive for Alps Industries shareholders as exclusion from ASM typically indicates improved financial/operational status. Investors in the 13+ securities under IBC stages should continue monitoring their investments carefully as these remain under enhanced surveillance.

Impact Justification

Regular surveillance update affecting multiple securities under IBC framework. One security excluded from ASM. No new securities added to Stage 0, Stage 1, or Stage 2.