Description

Shankara Buildpro Limited will be removed from multiple BSE indices including BSE SMALLCAP, BSE ALLCAP, and others effective prior to trading on January 28, 2026, as it did not hit lower circuit on January 22-23, 2026.

Summary

BSE Index Services Private Ltd announced the exclusion of Shankara Buildpro Limited (Scrip code: 544517) from multiple BSE indices effective prior to the open of trading on January 28, 2026. This action follows the company’s failure to hit the lower circuit on January 22 and 23, 2026, as part of the process for removal of spun-off scrips from BSE Indices following a scheme of arrangement for demerger.

Key Points

  • Shankara Buildpro Limited (Scrip code: 544517) will be excluded from 10 BSE indices
  • Exclusion triggered because the stock did not hit lower circuit on January 22 and 23, 2026
  • Action follows previously announced process (Notice No: 20250403-46) for removal of spun-off scrips post-demerger
  • The corporate action has been included in the end-of-day corporate action file (*.SDE)

Regulatory Changes

No new regulatory changes. This action implements the previously announced process (Notice No: 20250403-46) for handling spun-off scrips in index constituents following demerger schemes.

Compliance Requirements

  • Index fund managers and passive investors tracking affected indices must rebalance portfolios to exclude Shankara Buildpro Limited
  • Market participants should note the stock’s removal from index calculations
  • Queries should be directed to bseindex@bseindia.com

Important Dates

  • January 22, 2026: First observation day - stock did not hit lower circuit
  • January 23, 2026: Second observation day - stock did not hit lower circuit
  • January 28, 2026: Effective exclusion date (prior to market open)

Affected Indices

Shankara Buildpro Limited will be excluded from the following BSE indices:

  1. BSE SMALLCAP
  2. BSE ALLCAP
  3. BSE CONSUMER DISCRETIONARY
  4. BSE 1000
  5. BSE NEXT 500
  6. BSE NEXT 250
  7. MICROCAP BSE 1000
  8. MULTICAP EQUAL SIZE WEIGHTED (25%)
  9. BSE MIDSMALLCAP

Impact Assessment

Market Impact: Moderate impact on index fund managers and passive investors who track the affected indices. The exclusion will require portfolio rebalancing and may cause selling pressure on January 28, 2026.

Operational Impact: Index providers and fund managers need to execute rebalancing trades before or on the effective date. The stock’s removal from 9 different indices may affect liquidity and trading volumes.

Investor Impact: Passive investors in funds tracking these indices will see automatic divestment of Shankara Buildpro Limited holdings. Active investors should note potential price volatility around the exclusion date.

Impact Justification

Index exclusion affects passive fund holdings and trading dynamics for a specific company across multiple BSE indices following demerger process