Description
BSE updates the list of securities under the high promoter/non-promoter encumbrance measure per SEBI (SAST) Regulation 2011 Reg. 28(3), adding 3 new companies effective February 25, 2026, with a consolidated list of 14 securities.
Summary
BSE has updated the list of securities subject to the encumbrance measure under Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. Three new securities have been added to the framework effective February 25, 2026, while no securities are being removed. The consolidated list now includes 14 companies under surveillance.
Key Points
- 3 new securities added to the high promoter/non-promoter encumbrance measure effective February 25, 2026
- No securities are being moved out of the framework (Annexure II shows Nil exits)
- Consolidated list (Annexure III) now covers 14 securities
- The measure applies under Reg. 28(3) of SEBI (SAST) Regulations 2011, targeting companies with high levels of promoter and non-promoter share encumbrance
- Securities marked (*) in the original circular are classified as per NSE data
Regulatory Changes
This circular updates the existing encumbrance surveillance framework under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011, Regulation 28(3). The framework targets companies where promoter and/or non-promoter shareholding is significantly pledged or encumbered, posing systemic risk to market stability and investor interests.
Compliance Requirements
- Affected companies and their promoters must continue to comply with disclosure obligations under SEBI (SAST) Regulations 2011
- Trading members and investors should note the elevated risk profile of securities on this list
- Newly added companies (Onelife Capital Advisors, Premier Energy and Infrastructure, Tourism Finance Corporation of India) must ensure compliance with applicable encumbrance disclosure norms immediately
Important Dates
- Effective Date: February 25, 2026 — new additions to and exits from the encumbrance measure take effect
- Circular Date: February 24, 2026
Impact Assessment
Newly Added Securities (Annexure I):
| Scrip Code | ISIN | Company |
|---|---|---|
| 533632 | INE912L01015 | Onelife Capital Advisors Ltd |
| 533100 | INE429K01012 | Premier Energy and Infrastructure Ltd |
| 526650 | INE305A01023 | Tourism Finance Corporation of India Ltd |
Consolidated Securities Under Measure (Annexure III — 14 companies):
| Sr No | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 535693 | INE320I01017 | Brahmaputra Infrastructure Ltd |
| 2 | 502865 | INE518A01013 | Forbes & Company Ltd |
| 3 | 544186 | INE0TT901016 | Forbes Precision Tools and Machine Parts Ltd |
| 4 | 533296 | INE360L01017 | Future Market Networks Ltd |
| 5 | 541546 | INE287Z01012 | Gayatri Highways Ltd |
| 6 | 535667 | INE474O01010 | India Finsec Ltd |
| 7 | 532717 | INE332H01014 | Indo Tech Transformers Ltd |
| 8 | 533632 | INE912L01015 | Onelife Capital Advisors Ltd |
| 9 | 533100 | INE429K01012 | Premier Energy and Infrastructure Ltd |
| 10 | 505075 | INE878E01021 | Setco Automotive Ltd |
| 11 | 506003 | INE618D01015 | Sudal Industries Ltd |
| 12 | 526650 | INE305A01023 | Tourism Finance Corporation of India Ltd |
| 13 | 513629 | INE463D01016 | Tulsyan NEC Ltd |
| 14 | 532721 | INE286H01012 | Visa Steel Ltd |
Securities under this measure face heightened regulatory scrutiny. Investors and trading members should exercise caution, as high encumbrance levels can signal financial stress at the promoter level and potential forced selling risk.
Impact Justification
Directly imposes regulatory surveillance restrictions on 14 listed companies due to high promoter/non-promoter share encumbrance; 3 new additions effective next trading day signal heightened compliance risk for those securities.