Description

BSE updates the list of securities under Enhanced Surveillance Measure framework with new additions, stage movements, and consolidated list effective January 13, 2026.

Summary

BSE has announced updates to the Enhanced Surveillance Measure (ESM) Framework effective January 13, 2026. Three new securities are being added to the ESM framework, one security is being moved to a higher ESM stage, and no securities are being removed from the framework. The circular also provides a consolidated list of all securities currently under ESM surveillance across different stages.

Key Points

  • 3 new securities added to ESM framework: Shantai Industries Ltd, Ajwa Fun World & Resort Ltd, and Starlineps Enterprises Ltd
  • Bizotic Commercial Ltd (SME scrip) will be moved to a higher ESM stage
  • No securities are being moved to lower ESM stages
  • No securities are moving out of the ESM framework
  • Consolidated list contains 28 securities under various ESM stages (I and II)
  • Changes take effect from January 13, 2026

Regulatory Changes

The Enhanced Surveillance Measure framework is being updated with:

  • New Entries: Three securities being placed under ESM surveillance
  • Stage Escalation: One security moving to stricter surveillance (higher stage)
  • The ESM framework applies graduated surveillance measures based on concerns around price movements, volatility, or other market integrity issues

Compliance Requirements

  • Trading members and investors should note the enhanced surveillance status of listed securities
  • Securities under ESM are subject to additional trading restrictions and monitoring
  • Market participants should be aware of the specific ESM stage applicable to each security
  • Securities under ESM typically have stricter price bands, reduced position limits, or additional margin requirements

Important Dates

  • Effective Date: January 13, 2026 - All ESM framework changes become effective

Impact Assessment

Market Impact: Limited to specific securities under surveillance. The addition of three new securities and escalation of one security indicates ongoing market monitoring for potential concerns.

Trading Impact: Securities under ESM face:

  • Enhanced monitoring by the exchange
  • Potential trading restrictions
  • Increased margins for trading
  • Trade-for-trade settlement in higher stages

Investor Impact: Investors holding or trading in the 28 securities listed should be aware of:

  • Restricted liquidity conditions
  • Additional compliance requirements
  • Potential for further surveillance action if concerns persist

Detailed Securities List

Newly Added to ESM (Stage I)

  1. Shantai Industries Ltd (512297 / INE408F01024)
  2. Ajwa Fun World & Resort Ltd (526628 / INE863E01015)
  3. Starlineps Enterprises Ltd (540492 / INE594W01042)

Moving to Higher ESM Stage

  1. Bizotic Commercial Ltd# (543926 / INE0OJ401014) - SME Scrip

Consolidated List Highlights

The framework currently includes 28 securities across ESM Stage I and Stage II, with major names including Aadi Industries Ltd, Alps Industries Ltd, Anirit Ventures Ltd, and Arunjyoti Bio Ventures Ltd among others in Stage II.

Impact Justification

Regular surveillance framework update affecting specific securities with trading restrictions. Limited market-wide impact but significant for affected companies and their investors.