Description
BSE announces addition of Tulsyan NEC Ltd to the surveillance measure for companies with high promoter and non-promoter encumbrance effective December 30, 2025.
Summary
BSE has updated its surveillance framework for companies with high promoter and non-promoter encumbrance as per Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. Effective December 30, 2025, Tulsyan NEC Ltd has been added to this measure. No securities are being removed from the framework. The consolidated list now includes 10 securities under this surveillance measure.
Key Points
- One security added to high encumbrance surveillance measure: Tulsyan NEC Ltd (Scrip Code: 513629, ISIN: INE463D01016)
- No securities moving out of the framework
- Effective date: December 30, 2025
- Total securities under this measure: 10 companies
- Framework based on SEBI (SAST) Regulation 2011, Regulation 28(3)
Regulatory Changes
This circular implements surveillance measures under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011, specifically Regulation 28(3) which deals with encumbrance of shares. The framework targets companies where both promoter and non-promoter shareholding shows high levels of encumbrance, indicating potential financial stress or elevated risk.
Compliance Requirements
- Market participants should note the enhanced surveillance status of listed securities
- Investors should exercise additional caution when trading in securities under this measure
- Trading members and investors must be aware of the heightened risk profile of these securities
- Companies under this measure are subject to additional monitoring and disclosure requirements
Important Dates
- Effective Date: December 30, 2025
- Circular Issue Date: December 29, 2025
Impact Assessment
Market Impact: The addition of Tulsyan NEC Ltd to the high encumbrance surveillance list signals elevated risk levels for this security. The measure indicates significant pledging of shares by both promoter and non-promoter groups, which could lead to:
- Increased volatility in the stock price
- Potential margin calls or forced selling if share prices decline
- Reduced investor confidence
- Enhanced scrutiny from market participants and regulators
Consolidated List: The framework currently covers 10 securities including B.L. Kashyap and Sons Ltd, Bedmutha Industries Ltd, Brahmaputra Infrastructure Ltd, Future Market Networks Ltd, India Nivesh Ltd, NR Agarwal Industries Ltd, Premier Energy and Infrastructure Ltd, Shalimar Paints Ltd, Sudal Industries Ltd, and Tulsyan NEC Ltd.
Investor Considerations: Securities under this measure require careful evaluation of financial health, promoter commitment, and ability to meet debt obligations before investment decisions.
Additional Details
Securities Added (Annexure I)
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 513629 | INE463D01016 | Tulsyan NEC Ltd |
Consolidated List (Annexure III)
The complete list of 10 securities under this surveillance measure includes companies across various sectors, all exhibiting high levels of share encumbrance that warrant enhanced monitoring.
Impact Justification
Affects one security under enhanced surveillance for high encumbrance levels, indicating potential risks for investors but limited market-wide impact