Description
BSE updates the list of securities under the high promoter and non-promoter encumbrance surveillance measure per Reg. 28(3) of SEBI (SAST) Regulations 2011, effective March 02, 2026. No new securities are added; three securities exit the framework.
Summary
BSE has updated the list of securities under the surveillance measure applicable to companies with high Promoter as well as non-Promoter encumbrance, pursuant to Regulation 28(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The changes are effective from March 02, 2026. No new securities have been added to the framework in this review cycle, while three securities are being removed.
Key Points
- No new additions: Annexure I (new entrants) is Nil — no securities are being newly placed under this encumbrance surveillance measure.
- Three securities exiting: Forbes Precision Tools and Machine Parts Ltd, Future Market Networks Ltd, and Setco Automotive Ltd are moving out of the framework effective March 02, 2026.
- Ten securities remain: The consolidated list (Annexure III) retains 10 securities under this surveillance measure.
- Note markers indicate some exits may be due to migration into LT ASM, ESM, or TT frameworks.
Regulatory Changes
This circular is issued under Regulation 28(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates surveillance actions for listed companies where promoter or non-promoter shareholding encumbrance crosses prescribed thresholds. The update reflects the latest periodic review of the encumbrance framework.
Compliance Requirements
- Trading members and market participants should note the revised list and update their internal compliance systems.
- Securities moving out may be subject to different surveillance frameworks (LT ASM, ESM, or TT) as indicated by the note markers in Annexure II.
- Investors and brokers dealing in the 10 retained securities must continue to adhere to applicable restrictions under this encumbrance measure.
Important Dates
- Effective Date: March 02, 2026
- Circular Date: February 27, 2026
Impact Assessment
Securities Moving Out (Annexure II) — effective March 02, 2026:
| Sr. No. | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 544186 | INE0TT901016 | Forbes Precision Tools and Machine Parts Ltd |
| 2 | 533296 | INE360L01017 | Future Market Networks Ltd |
| 3 | 505075 | INE878E01021 | Setco Automotive Ltd |
Consolidated List Remaining Under Framework (Annexure III):
| Sr. No. | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 502865 | INE518A01013 | Forbes & Company Ltd |
| 2 | 541546 | INE287Z01012 | Gayatri Highways Ltd |
| 3 | 535667 | INE474O01010 | India Finsec Ltd |
| 4 | 532717 | INE332H01014 | Indo Tech Transformers Ltd |
| 5 | 533632 | INE912L01015 | Onelife Capital Advisors Ltd |
| 6 | 533100 | INE429K01012 | Premier Energy and Infrastructure Ltd |
| 7 | 506003 | INE618D01015 | Sudal Industries Ltd |
| 8 | 526650 | INE305A01023 | Tourism Finance Corporation of India Ltd |
| 9 | 513629 | INE463D01016 | Tulsyan NEC Ltd |
| 10 | 532721 | INE286H01012 | Visa Steel Ltd |
The net reduction from 13 to 10 securities signals a slight easing in the encumbrance surveillance list. The three exiting securities may face different trading restrictions if they have migrated to alternative surveillance frameworks (LT ASM, ESM, or TT).
Impact Justification
Routine periodic update to an existing surveillance framework; no new securities are added (Annexure I is Nil), three securities exit, and ten remain on the consolidated list. Directly affects trading in 13 specific scrips.