Description

Advent Hotels International Limited (Scrip code: 544446) will be excluded from multiple BSE Indices effective prior to the open of trading on Tuesday, November 25, 2025, as it did not hit the lower circuit on November 20 and 21, 2025.

Summary

BSE Index Services Private Ltd has announced that Advent Hotels International Limited (Scrip code: 544446) will be excluded from nine BSE Indices effective prior to the open of trading on Tuesday, November 25, 2025. This action follows the company’s failure to hit the lower circuit on Thursday, November 20, 2025, and Friday, November 21, 2025, as per the process for removal of spun-off scrips from BSE Indices in the event of a scheme of arrangement for demerger.

Key Points

  • Advent Hotels International Limited (Scrip code: 544446) did not hit the lower circuit on November 20 and 21, 2025
  • The company will be excluded from 9 BSE Indices effective November 25, 2025
  • Removal applies to indices including BSE SMALLCAP, BSE ALLCAP, BSE CONSUMER DISCRETIONARY, BSE 1000, BSE NEXT 500, BSE 250 MICROCAP, BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%), and BSE MIDSMALLCAP
  • Action follows the demerger/spun-off scrip removal process announced in Notice No: 20250403-46
  • The action has been included in the end-of-day corporate action 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 tracking funds and passive investment vehicles need to rebalance portfolios to exclude Advent Hotels International Limited from affected indices
  • Market participants should update their trading and risk management systems to reflect the index composition changes
  • Queries related to this action should be directed to bseindex@bseindia.com

Important Dates

  • November 20, 2025: First day Advent Hotels International Limited did not hit lower circuit
  • November 21, 2025: Second consecutive day stock did not hit lower circuit; notice issued
  • November 25, 2025: Effective date of exclusion from BSE Indices (prior to open of trading)

Impact Assessment

Market Impact: The exclusion of Advent Hotels International Limited from nine BSE Indices will require passive funds tracking these indices to sell their holdings in the stock. This could create temporary selling pressure, though the impact is moderated as the stock is relatively small (classified in smallcap and microcap indices).

Operational Impact: Index fund managers will need to rebalance portfolios before November 25, 2025. The exclusion affects indices across market capitalizations and sector classifications, requiring coordinated adjustments.

Liquidity Impact: Post-exclusion, the stock may experience reduced institutional interest and lower trading volumes as index-tracking funds exit their positions. The absence of lower circuit hits on November 20-21 suggests the market has already partially absorbed the demerger impact.

Impact Justification

Index exclusion affects passive fund tracking and liquidity for the scrip. Medium impact as it involves removal from multiple indices following demerger rules, but limited to one smallcap stock.