Description

BSE announces monthly reconstitution of BSE IPO and BSE SME IPO Indices, with multiple securities being dropped effective November 24, 2025.

Summary

BSE Index Services Private Limited has announced the monthly reconstitution of the BSE IPO and BSE SME IPO Indices, effective at market open on Monday, November 24, 2025. The reconstitution involves dropping 9 securities from the BSE IPO Index and 1 security from the BSE SME IPO Index. These changes have been included in the end-of-day corporate action file.

Key Points

  • Monthly reconstitution affects BSE IPO and BSE SME IPO Indices
  • Total of 10 securities being dropped from the indices
  • Changes effective at market open on November 24, 2025
  • All actions included in end-of-day corporate action file (*.SDE)
  • Queries can be directed to bseindex@bseindia.com

Securities Being Dropped

BSE IPO Index (9 securities)

  • 544274: Hyundai Motor India Limited
  • 544276: Deepak Builders and Engineers India Limited
  • 544277: Waaree Energies Limited
  • 544279: Godavari Biorefineries Limited
  • 544280: Afcons Infrastructure Limited
  • 544282: Sagility Limited
  • 544283: Acme Solar Holdings Limited
  • 544285: Swiggy Limited
  • 544286: Niva Bupa Health Insurance Company Limited

BSE SME IPO Index (1 security)

  • 544287: Mangal Compusolution Limited

Regulatory Changes

No regulatory changes. This is a routine monthly index maintenance activity conducted by BSE Index Services Private Limited.

Compliance Requirements

  • Index-tracking funds and portfolio managers need to rebalance their holdings to reflect the reconstitution
  • Market participants should note the corporate action file updates
  • No specific compliance actions required for listed companies

Important Dates

  • Notice Date: November 14, 2025
  • Effective Date: November 24, 2025 (at market open)
  • Corporate Action File: Included in end-of-day file on notice date

Impact Assessment

Market Impact: Medium - This reconstitution will affect index-tracking funds and ETFs that replicate the BSE IPO and BSE SME IPO Indices. Fund managers will need to sell these securities from their portfolios to maintain index alignment.

Affected Securities: The 10 securities being dropped may experience temporary selling pressure from passive funds unwinding positions, though the impact is typically limited as these are routine monthly reconstitutions.

Investor Impact: Investors in index funds tracking these indices should be aware of the portfolio changes, though this is part of normal index maintenance as IPO stocks age out of the IPO-focused indices.

Impact Justification

Routine monthly index reconstitution affecting multiple securities in BSE IPO indices. Medium impact for affected stocks and index-tracking funds, but low overall market significance as this is a regular maintenance activity.