Description
BSE announces changes to securities under Long Term ASM Framework effective December 01, 2025, including new additions, stage movements, and exits from the framework.
Summary
BSE has announced changes to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective December 01, 2025. The circular details four securities being newly shortlisted for LT-ASM, three securities moving to higher ASM stages while remaining in the framework, three securities moving to lower ASM stages, and twelve securities exiting the LT-ASM Framework. Some securities are moving out due to inclusion in other frameworks including Trade for Trade, GSM, ESM, and IBC frameworks.
Key Points
- 4 new securities shortlisted in Long Term ASM Framework from December 01, 2025
- 3 securities moving to higher ASM stages (Stage II) while continuing in LT-ASM
- 3 securities moving to lower ASM stages (Stage I and II) while continuing in LT-ASM
- 12 securities moving out of LT-ASM Framework entirely
- Securities exiting LT-ASM are being moved to alternative frameworks (Trade for Trade, GSM, ESM, IBC)
- No securities shortlisted for direct Stage IV placement under notice 20210604-41
Securities Added to LT-ASM Framework
Part A - New Additions:
- Bandaram Pharma Packtech Ltd (524602)
- Dev Labtech Venture Ltd (543848)
- Magellanic Cloud Ltd (538891)
- Sera Investments & Finance India Ltd (512399)
Securities Movement Within LT-ASM
Part B - Moving to Higher ASM Stages:
- Arigato Universe Ltd (530267) - Moving to Stage II
- Captain Technocast Ltd (540652) - Moving to Stage II
- Flexituff Ventures International Ltd (533638) - Moving to Stage II
Part C - Moving to Lower ASM Stages:
- Arihant Foundations & Housing Ltd (531381) - Moving to Stage I
- Ironwood Education Ltd (508918) - Moving to Stage II
- Priya Ltd (524580) - Moving to Stage I
Securities Exiting LT-ASM Framework
Part D - Moving Out (Annexure II):
- Aditya Consumer Marketing Ltd (540146)
- Ahasolar Technologies Ltd (543941)
- Bil Vyapar Ltd (500059) - Moving to Trade for Trade
- Cybele Industries Ltd (531472) - Moving to ESM Framework
- Hubtown Ltd (532799)
- Infobeans Technologies Ltd (543644)
- Modern Thread India Ltd (500282)
- Novateor Research Laboratories Ltd (542771)
- Porwal Auto Components Ltd (532933)
- Rajnish Wellness Ltd (541601)
- Sika Interplant Systems Ltd (523606)
- Zuari Agro Chemicals Ltd (534742)
Regulatory Changes
The Long Term ASM Framework continues BSE’s surveillance mechanism to monitor securities with abnormal price movements or unusual trading patterns. Securities under this framework face enhanced monitoring and potential trading restrictions based on their stage classification.
Compliance Requirements
- Market participants must be aware of the revised LT-ASM classification for affected securities
- Trading members should update their systems to reflect new surveillance classifications
- Investors trading in these securities should note the additional surveillance measures applicable
- Enhanced margin requirements and price bands may apply to securities under LT-ASM
Important Dates
- Effective Date: December 01, 2025 - All changes to LT-ASM Framework take effect
- Circular Date: November 28, 2025
Impact Assessment
The changes affect 22 securities with varying impacts:
- New LT-ASM securities will face enhanced surveillance, potential price bands, and additional margin requirements
- Securities moving to higher stages will experience stricter surveillance measures
- Securities moving to lower stages will see some relaxation in surveillance intensity
- Securities exiting to other frameworks (Trade for Trade, ESM, GSM, IBC) may face different or potentially more stringent restrictions
- Market liquidity in affected securities may be impacted due to surveillance measures
- Investors should exercise caution when trading in LT-ASM securities as they indicate heightened regulatory scrutiny
Impact Justification
Affects 22 securities across multiple categories with surveillance framework changes that impact trading conditions and investor restrictions