Description

BSE announces addition of 1 security to ESM framework, movement of 6 securities to higher ESM stages, and provides consolidated list of all securities under ESM surveillance effective February 04, 2026.

Summary

BSE has issued updates to the Enhanced Surveillance Measure (ESM) framework effective February 04, 2026. One new security (Acceleratebs India Ltd) has been shortlisted for inclusion in ESM Stage I. Six existing securities under ESM surveillance are being moved to higher ESM stages, indicating continued surveillance concerns. No securities are moving to lower stages or exiting the ESM framework. The circular includes a consolidated list of 26 securities currently under ESM surveillance across Stage I and Stage II.

Key Points

  • 1 security newly added to ESM Stage I: Acceleratebs India Ltd (Scrip Code: 543938, ISIN: INE0POP01017) - SME scrip
  • 6 securities moving to higher ESM stages: Arunis Abode Ltd, Chambal Breweries & Distilleries Ltd, Crimson Metal Engineering Company Ltd, Cura Technologies Ltd, Hiliks Technologies Ltd, and Ramgopal Polytex Ltd
  • No securities moving to lower ESM stages or exiting ESM framework
  • Consolidated list includes 26 securities under ESM surveillance (Stage I and Stage II)
  • Changes effective from February 04, 2026
  • ESM framework designed to alert investors about securities with abnormal price movements and other surveillance concerns

Regulatory Changes

No new regulatory changes to the ESM framework itself. This circular implements routine periodic review and updates to securities classification under the existing ESM framework as per established surveillance protocols.

Compliance Requirements

  • Trading members must inform clients about securities under ESM framework
  • Securities in ESM are subject to Trade-for-Trade (T2T) settlement with no intraday leverage
  • Additional surveillance deposit and periodic call auction may apply based on ESM stage
  • Members must ensure appropriate risk disclosures to clients trading in ESM securities
  • Price bands and position limits may be modified for ESM securities

Important Dates

  • Effective Date: February 04, 2026 - All ESM changes become effective
  • Circular Date: February 03, 2026

Impact Assessment

Market Impact: Medium - affects 7 securities with stage changes and 1 new addition to ESM surveillance

Trading Impact: Securities moving to higher ESM stages face stricter trading restrictions including mandatory T2T settlement, higher surveillance deposits, and periodic call auctions. This typically results in reduced liquidity and higher trading costs for these scrips.

Investor Impact: Investors holding or trading these securities should be aware of enhanced surveillance measures indicating potential concerns with price volatility, corporate governance, or other surveillance parameters. Higher ESM stages signal increased regulatory scrutiny.

Operational Impact: Trading members need to update their systems, adjust margin requirements, and communicate changes to affected clients before the effective date.

Securities Details

Newly Added to ESM Stage I:

  1. Acceleratebs India Ltd (543938, INE0POP01017) - SME

Moving to Higher ESM Stages:

  1. Arunis Abode Ltd (526935, INE377D01018) - moving to Stage II
  2. Chambal Breweries & Distilleries Ltd (512301, INE417N01011) - moving to higher stage
  3. Crimson Metal Engineering Company Ltd (526977, INE318P01016) - moving to higher stage
  4. Cura Technologies Ltd (532332, INE117B01020) - moving to higher stage
  5. Hiliks Technologies Ltd (539697, INE966Q01010) - moving to higher stage
  6. Ramgopal Polytex Ltd (514223, INE410D01017) - moving to higher stage

Total Securities Under ESM:

Consolidated list shows 26 securities under ESM surveillance across Stage I and Stage II as of February 04, 2026.

Impact Justification

Regular ESM framework update affecting 7 securities with stage migrations, impacting trading conditions for specific scrips under surveillance