Description

Advent Hotels International Limited to be excluded from multiple BSE indices effective November 25, 2025, following demerger scheme of arrangement.

Summary

BSE Index Services Private Ltd has announced the exclusion of Advent Hotels International Limited (Scrip code: 544446) from multiple BSE indices effective prior to trading on November 25, 2025. This action follows the company’s scheme of arrangement for demerger and the established process for removal of spun-off scrips from indices. The exclusion was triggered because the scrip did not hit the lower circuit on November 20 and 21, 2025.

Key Points

  • Advent Hotels International Limited (Scrip code: 544446) to be removed from 9 BSE indices
  • Effective date: Prior to open of trading on Tuesday, November 25, 2025
  • Removal follows demerger scheme of arrangement process announced in Notice No: 20250403-46
  • The scrip did not hit lower circuit on Thursday, November 20, 2025 and Friday, November 21, 2025, triggering exclusion
  • Corporate action included in end-of-day file (*.SDE)

Regulatory Changes

No new regulatory changes introduced. This action implements the existing process for removal of spun-off scrips from BSE Indices following a scheme of arrangement for demerger, as previously announced in Notice No: 20250403-46 dated April 3, 2025.

Compliance Requirements

  • Index fund managers tracking affected BSE indices must rebalance portfolios to exclude Advent Hotels International Limited
  • Market participants should note the corporate action file update
  • Queries should be directed to bseindex@bseindia.com

Important Dates

  • November 20, 2025: First day scrip did not hit lower circuit
  • November 21, 2025: Second day scrip did not hit lower circuit (trigger day)
  • November 25, 2025: Effective exclusion date (prior to trading open)

Affected Indices

Advent Hotels International Limited will be excluded from the following BSE indices:

  1. BSE SMALLCAP
  2. BSE ALLCAP
  3. BSE CONSUMER DISCRETIONARY
  4. BSE 1000
  5. BSE NEXT 500
  6. BSE 250 MICROCAP
  7. BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%)
  8. BSE MIDSMALLCAP

Impact Assessment

Market Impact: Medium - The exclusion affects passive funds and ETFs tracking the affected indices, requiring mandatory rebalancing. The stock’s presence in multiple indices including BSE SMALLCAP and BSE ALLCAP indicates moderate market capitalization.

Operational Impact: Index fund managers must execute selling orders before market open on November 25, 2025. The removal from 9 indices simultaneously may create temporary selling pressure.

Investor Impact: Passive investors in affected index funds will see automatic divestment from Advent Hotels International Limited. Active fund managers may reassess positions based on non-index investment thesis.

Impact Justification

Index exclusion affects passive fund holdings and index tracking but is procedural following demerger rules. Impacts multiple indices but limited to single scrip.