Description

BSE announces group changes for 20 exclusively listed companies effective December 15, 2025, as part of X/XT segment review with securities moving between X, B, T, and XT groups.

Summary

BSE has announced group changes for 20 exclusively listed companies effective December 15, 2025, as part of the X/XT segment review. The changes involve securities moving between X, B, T, and XT groups based on criteria including market capitalization, net worth, number of shareholders, and FII holdings. Ten companies are moving out of X/XT groups to B or T groups, while ten companies are moving into X/XT groups from B or T groups.

Key Points

  • 20 companies undergoing group changes effective December 15, 2025
  • 10 companies moving from X group to B group
  • 2 companies moving from XT group to T group
  • 5 companies moving from B group to X group
  • 3 companies moving from T group to XT group
  • Changes are part of periodic X/XT segment review
  • Criteria based on market capitalization, net worth, shareholder base, and FII holdings

Regulatory Changes

No new regulatory changes introduced. The circular implements existing X/XT segment classification criteria as per notice no 20171129-17 dated November 29, 2017.

X/XT Segment Exclusion Criteria

Securities are excluded from X/XT group if they meet any of the following:

  • Six-month average market capitalization > Rs. 1000 Cr AND number of shareholders > 5000
  • Constituents of S&P BSE Sensex, S&P BSE 100, S&P BSE 200, or S&P BSE 500 indices
  • Six-month average market capitalization > Rs. 1000 Cr AND Net worth > Rs. 150 Cr
  • Net worth > Rs. 150 Cr AND FII holding > 20%
  • Listed and traded on SME/SME-ITP segment
  • Securities in P and Z groups (remain in respective groups)

Compliance Requirements

  • Trading members must note the group changes for the 20 affected companies
  • Adjust trading parameters and systems accordingly before December 15, 2025
  • Ensure compliance with group-specific trading rules for each security post-change

Important Dates

  • Notice Date: December 9, 2025
  • Effective Date: December 15, 2025

Impact Assessment

Companies Moving to X/XT Groups (Increased Surveillance)

  1. Beekay Steel Industries Ltd (B → X)
  2. Bhatia Communications & Retail (India) Ltd (B → X)
  3. Fedders Holding Ltd (B → X)
  4. Forbes Precision Tools and Machine Parts Ltd (B → X)
  5. Garment Mantra Lifestyle Ltd (B → X)
  6. Lancer Container Lines Ltd (T → XT)
  7. Shree Ganesh Remedies Ltd (B → X)
  8. Tasty Dairy Specialities Ltd (T → XT)
  9. Tuticorin Alkali Chemicals & Fertilisers Ltd (B → X)
  10. Veritas (India) Ltd (T → XT)

Companies Moving Out of X/XT Groups (Reduced Surveillance)

  1. Arihant Foundations & Housing Ltd (X → B)
  2. Automobile Corpn. of Goa Ltd (X → B)
  3. Blue Pearl Agriventures Ltd (XT → T)
  4. BN Agrochem Ltd (X → B)
  5. Colab Platforms Ltd (XT → T)
  6. Hazoor Multi Projects Ltd (X → B)
  7. Industrial & Prudential Investment Company Ltd (X → B)
  8. Kothari Industrial Corpn. Ltd (XT → T)
  9. Midwest Gold Ltd (XT → T)
  10. Vishal Fabrics Ltd (X → B)

Market Impact

  • Liquidity: Companies moving to X/XT groups may experience reduced liquidity due to enhanced surveillance measures
  • Trading Restrictions: X/XT group securities typically face additional trading restrictions and monitoring
  • Investor Perception: Movement to X/XT groups may negatively impact investor sentiment
  • Price Discovery: Enhanced surveillance may affect price discovery and volatility patterns

Impact Justification

Affects trading parameters for 20 companies across multiple group segments, impacting liquidity and trading conditions for exclusively listed securities.