Description

BSE publishes tentative schedule for publication of securities eligible under GSM framework for the next 4 quarters (December 2025 to September 2026).

Summary

BSE has issued an update on the Graded Surveillance Measure (GSM) framework, providing a tentative time schedule for publication of securities eligible under GSM for the next four quarters. This notice serves as an advance schedule reference for market participants to know when GSM-related circulars will be published.

Key Points

  • Tentative schedule published for GSM framework circulars for next 4 quarters
  • Quarter ended December 2025: Notice on March 06, 2026
  • Quarter ended March 2026: Notice on June 12, 2026
  • Quarter ended June 2026: Notice on September 04, 2026
  • Quarter ended September 2026: Notice on December 04, 2026
  • If scheduled date falls on trading holiday, circular will be published on next working day
  • GSM framework operates in conjunction with all other prevailing surveillance measures
  • Notice references previous circulars dating back to February 2017

Regulatory Changes

No regulatory changes introduced in this circular. This is an informational update providing the schedule for future GSM framework publications.

Compliance Requirements

No new compliance requirements. Market participants should note the scheduled dates for future GSM-related circulars and monitor publications accordingly.

Important Dates

  • March 06, 2026: Publication of securities eligible under GSM for quarter ended December 2025
  • June 12, 2026: Publication of securities eligible under GSM for quarter ended March 2026
  • September 04, 2026: Publication of securities eligible under GSM for quarter ended June 2026
  • December 04, 2026: Publication of securities eligible under GSM for quarter ended September 2026

Impact Assessment

Minimal immediate impact. This is a procedural notice that provides advance visibility into when GSM framework updates will be published. Market participants can plan ahead for monitoring these quarterly publications. The actual impact will depend on which securities are included in the GSM framework when each quarterly circular is published. For clarifications, members can contact BSE Surveillance at 022 2272 5001 / 5091.

Impact Justification

Procedural notice providing advance schedule for GSM framework publication. No immediate action required by market participants, no regulatory changes, and no specific stocks affected.