Description

Syngene International Ltd F&O contracts to be discontinued from March 27, 2026 as per SEBI eligibility criteria review. Existing contracts will expire on respective dates.

Summary

BSE has announced the exclusion of Futures and Options contracts of Syngene International Ltd (Scrip Code: 539268, Derivatives Asset Code: SYNG) from the Equity Derivatives segment effective March 27, 2026. This action follows SEBI Circular SEBI/HO/MRD/MRD-PoD-2/P/CIR/2024/116 dated August 30, 2024, regarding eligibility criteria of stocks in derivatives segment. No new expiry month contracts will be generated after this date.

Key Points

  • Syngene International Ltd F&O contracts to be discontinued from March 27, 2026
  • Derivatives Asset Code: SYNG, Equity Scrip Code: 539268
  • No new expiry month contracts will be generated
  • Action taken per SEBI eligibility criteria review circular dated August 30, 2024
  • Referenced BSE Notice 20240902-3 dated September 02, 2024

Regulatory Changes

This exclusion is implemented in accordance with:

  • SEBI Circular Ref. No: SEBI/HO/MRD/MRD-PoD-2/P/CIR/2024/116 dated August 30, 2024 on eligibility criteria of stocks
  • BSE Notice no 20240902-3 dated September 02, 2024 regarding review of eligibility criteria for entry/exit of stocks in derivatives segment

Compliance Requirements

  • Trading members must note the discontinuation of Syngene International Ltd derivatives
  • All positions in existing contracts must be closed or allowed to expire by respective expiry dates
  • No fresh positions can be initiated in contracts beyond March 2026 expiry
  • Members should inform their clients about the exclusion and plan position closures accordingly

Important Dates

  • January 23, 2026: Notice date
  • January 29, 2026: Expiry of January 2026 contracts (Note: appears to be typo in original, should be 2026)
  • February 26, 2026: Expiry of February 2026 contracts
  • March 25, 2026: Expiry of March 2026 contracts (final expiry)
  • March 27, 2026: Effective discontinuation date - no contracts available for trading from this date

Impact Assessment

Market Impact: High - Complete removal of derivatives trading facility for Syngene International Ltd will impact traders and market makers with positions in this stock. Liquidity in existing contracts may be affected as expiry approaches.

Operational Impact: High - Trading members need to manage client positions and ensure orderly exit or expiry of all outstanding F&O contracts by March 25, 2026. Risk management systems need to be updated to prevent new position creation beyond March 2026 expiry.

Investor Impact: High - Investors using derivatives for hedging or speculation in Syngene International Ltd must find alternative strategies or exit positions. Those with long-term derivative strategies will need to transition to cash market or other instruments.

Impact Justification

Complete discontinuation of F&O trading for Syngene International Ltd affects all derivative traders and positions in this stock. High importance due to mandatory exit requirement for all positions.