Description

BSE announces addition of EXCELSOFT TECHNOLOGIES LIMITED to BSE IPO Index effective November 28, 2025, and GALLARD STEEL LIMITED to BSE SME IPO Index effective November 27, 2025.

Summary

BSE Index Services announces the addition of two newly listed companies to their respective indices. EXCELSOFT TECHNOLOGIES LIMITED (ticker: 544617) will be added to the BSE IPO Index effective November 28, 2025, following its listing on November 26, 2025. GALLARD STEEL LIMITED (ticker: 544616) will be added to the BSE SME IPO Index effective November 27, 2025, following its listing on the SME platform on November 26, 2025.

Key Points

  • EXCELSOFT TECHNOLOGIES LIMITED (544617) listed on BSE main board on November 26, 2025
  • Addition to BSE IPO Index effective at open on November 28, 2025
  • GALLARD STEEL LIMITED (544616) listed on BSE SME platform on November 26, 2025
  • Addition to BSE SME IPO Index effective at open on November 27, 2025
  • Changes included in end-of-day corporate action file (*.SDE)
  • References prior notices 20251125-44 and 20251125-46

Regulatory Changes

No regulatory changes announced. This is a standard index maintenance activity following new listings.

Compliance Requirements

No specific compliance requirements for market participants. Index fund managers tracking BSE IPO Index and BSE SME IPO Index will need to adjust their portfolios to reflect these additions at the specified effective dates.

Important Dates

  • November 26, 2025: EXCELSOFT TECHNOLOGIES LIMITED and GALLARD STEEL LIMITED listing date
  • November 27, 2025: GALLARD STEEL LIMITED addition to BSE SME IPO Index (effective at open)
  • November 28, 2025: EXCELSOFT TECHNOLOGIES LIMITED addition to BSE IPO Index (effective at open)

Impact Assessment

Limited market impact as this is routine index maintenance following new IPO listings. Primary impact will be on passive index funds and ETFs tracking the BSE IPO Index and BSE SME IPO Index, which will need to purchase these stocks for portfolio rebalancing. The staggered effective dates (November 27 and 28) allow for orderly inclusion into respective indices.

Impact Justification

Routine index addition following new listings; affects passive index funds tracking these indices but limited broader market impact