Description

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 BSE IPO and BSE SME IPO Indices. Nine securities will be dropped from the BSE IPO Index and one security will be dropped from the BSE SME IPO Index. The changes will be effective at market open on November 24, 2025. These actions have been included in the end-of-day corporate action file.

Key Points

  • Monthly reconstitution affects BSE IPO Index and BSE SME IPO Index
  • Total of 10 securities being dropped from the indices
  • 9 securities dropping from BSE IPO Index
  • 1 security dropping from BSE SME IPO Index
  • Changes reflected in corporate action file (*.SDE)
  • No additions announced in this reconstitution

Securities Being Dropped

BSE IPO Index (9 securities)

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

BSE SME IPO Index (1 security)

  • Mangal Compusolution Limited (544287)

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 passive investment products tracking these indices, including ETFs and index funds. Fund managers will need to rebalance portfolios to align with the new index composition.

Operational Impact: Routine monthly maintenance of IPO-focused indices. The dropping of these securities indicates they have completed their tenure in the IPO index (typically 1 year from listing).

Investor Impact: Investors in index-tracking products may see automatic portfolio adjustments. The exclusion of these securities from the indices does not reflect on their individual merit but rather adherence to index methodology rules.

Contact Information

For queries regarding this reconstitution, contact: bseindex@bseindia.com

Impact Justification

Routine monthly index reconstitution affecting passive index funds and ETFs tracking these indices. Medium impact due to multiple securities being dropped from two indices.