Description

Shankara Buildpro Limited will be removed from BSE SMALLCAP and other indices effective January 28, 2026, following demerger scheme rules as it did not hit lower circuit on specified dates.

Summary

BSE Index Services Private Ltd announced that Shankara Buildpro Limited (Scrip code: 544517) will be excluded from multiple BSE indices effective prior to trading on January 28, 2026. This action follows the company’s failure to hit the lower circuit on January 22-23, 2026, as part of the previously announced process for removal of spun-off scrips from BSE Indices following demerger schemes (Notice No: 20250403-46).

Key Points

  • Shankara Buildpro Limited (Scrip code: 544517) to be removed from 10 BSE indices
  • Exclusion follows demerger scheme arrangement protocol announced in Notice No: 20250403-46
  • Company did not hit lower circuit on Thursday, January 22, 2026 and Friday, January 23, 2026
  • Removal affects major indices including BSE SMALLCAP, BSE ALLCAP, BSE 1000, and BSE NEXT 500
  • Corporate action included in end-of-day corporate action file (*.SDE)

Regulatory Changes

No new regulatory changes. This action implements the existing process announced via Notice No: 20250403-46 for removal of spun-off scrips from BSE Indices in the event of a scheme of arrangement for demerger post-listing.

Compliance Requirements

  • Index fund managers and passive investment vehicles tracking affected indices must rebalance portfolios
  • Market participants should note the exclusion for portfolio management and trading strategies
  • Queries should be directed to bseindex@bseindia.com

Important Dates

  • January 22, 2026: First observation date (lower circuit not hit)
  • January 23, 2026: Second observation date (lower circuit not hit)
  • January 28, 2026: Effective exclusion date from all listed BSE indices prior to market open

Impact Assessment

Market Impact: Medium - Removal from 10 indices including major benchmarks like BSE SMALLCAP will trigger forced selling by passive funds and index-tracking portfolios. The exclusion affects broad market indices (BSE ALLCAP, BSE 1000) as well as segment-specific indices (BSE CONSUMER DISCRETIONARY, BSE NEXT 500, BSE NEXT 250, MICROCAP).

Trading Impact: Liquidity may be affected as index funds rebalance. Weight redistribution will occur among remaining constituents in affected indices.

Affected Indices:

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

Impact Justification

Index exclusion affects passive fund holdings and market positioning but follows pre-announced demerger process rules