Description

BSE updates the list of securities under Long Term Additional Surveillance Measure framework with additions, exits, and stage changes effective January 19, 2026.

Summary

BSE has updated the Long Term Additional Surveillance Measure (LT-ASM) framework effective January 19, 2026. The circular lists securities being added to LT-ASM, those moving between ASM stages, and those exiting the framework. Three new securities are being shortlisted under LT-ASM, while eight securities are moving out of the framework due to inclusion in other surveillance measures or frameworks.

Key Points

  • 3 new securities shortlisted in Long Term ASM Framework: Boston Bio Systems Ltd, Gabriel Pet Straps Ltd, ITCONS E-Solutions Ltd
  • 1 security moving to higher ASM Stage II: Shahlon Silk Industries Ltd
  • 6 securities moving to lower ASM stages (3 to Stage I, 2 to Stage III, 1 to Stage II)
  • 8 securities moving out of LT-ASM Framework
  • No securities shortlisted for Direct Stage IV under LT-ASM
  • Changes effective from January 19, 2026

Securities Added to LT-ASM Framework

Part A - New Additions:

  1. Boston Bio Systems Ltd (531458, INE109B01019)
  2. Gabriel Pet Straps Ltd (544108, INE0QZF01012)
  3. ITCONS E-Solutions Ltd (543806, INE0O6A01019)

Stage Changes Within LT-ASM

Part B - Moving to Higher Stage:

  • Shahlon Silk Industries Ltd (542862, INE052001026) - Moving to Stage II

Part C - Moving to Lower Stage:

  • Cupid Breweries And Distilleries Ltd (512361) - Moving to Stage I
  • Fabino Enterprises Ltd (543444) - Moving to Stage I
  • Ikoma Technologies Ltd (531997) - Moving to Stage I
  • Kothari Industrial Corporation Ltd (509732) - Moving to Stage III
  • Stallion India Fluorochemicals Ltd (544342) - Moving to Stage III
  • Sumeet Industries Ltd (514211) - Moving to Stage II

Securities Exiting LT-ASM Framework

Part D (Annexure II) - 8 Securities Moving Out:

  1. Atal Realtech Ltd (543911, INE0ALR01029)
  2. Cambridge Technology Enterprises Ltd (532801, INE627H01017)
  3. Gujarat Terce Laboratories Ltd (524314, INE499G01013)
  4. Indrayani Biotech Ltd (526445, INE007C01021)
  5. Ironwood Education Ltd (508918, INE791H01011)
  6. Machhar Industries Ltd (543934, INE01BT01015)
  7. Manaksia Aluminium Company Ltd (539045, INE859Q01017) - moved to ESM Framework
  8. Tata Investment Corporation Ltd (501301, INE672A01026)

Reasons for Exit:

  • Securities marked ($) moved to ESM Framework
  • Securities marked (#) moved to GSM Framework
  • Securities marked (*) moved to Trade for Trade framework
  • Securities marked (&) moved to IBC Framework

Regulatory Changes

The Long Term Additional Surveillance Measure framework is being updated with revised security lists across different ASM stages. The framework includes four stages (I through IV) of surveillance measures, with varying levels of trading restrictions based on the stage.

Compliance Requirements

  • Trading members must note the revised surveillance categorization for affected securities
  • Enhanced due diligence and surveillance measures apply to securities under LT-ASM
  • Specific trading restrictions and additional margin requirements may apply based on ASM stage
  • Market participants should review the consolidated list in Annexure III for complete security status

Important Dates

  • Effective Date: January 19, 2026 - All changes to LT-ASM framework become applicable

Impact Assessment

Market Impact:

  • Trading conditions will be modified for 17 securities under various ASM stages
  • Securities moving to higher stages face increased trading restrictions and margin requirements
  • Securities exiting LT-ASM may see improved liquidity if moving to less restrictive frameworks
  • 8 securities transitioning to other surveillance frameworks (ESM, GSM, Trade-for-Trade, IBC) will be subject to different regulatory requirements

Operational Impact:

  • Brokers and trading members must update risk management systems to reflect new ASM classifications
  • Investors holding affected securities should be aware of changed trading parameters
  • Enhanced monitoring and reporting obligations for securities in higher ASM stages

Impact Justification

Affects trading conditions for 18 securities across multiple stages of surveillance framework, with 3 new additions and 8 exits from LT-ASM