Description
BSE circular announcing 8 securities newly shortlisted under the Short Term 5/15/30 Days ASM Framework and 12 securities moving out of the ST-ASM Framework, effective March 02, 2026.
Summary
BSE has issued this circular detailing changes to the Short Term (ST) Additional Surveillance Measure (ASM) Framework effective March 02, 2026. Eight securities have been newly shortlisted under the Short Term 5/15/30 Days ASM Framework, while twelve securities are moving out of the ST-ASM Framework — several due to migration into stricter regimes such as LT-ASM or Trade-for-Trade. No securities are moving to a higher or lower ASM stage within the framework.
Key Points
- 8 securities newly added to the Short Term 5/15/30 Days ASM Framework w.e.f. March 02, 2026
- NIL securities moving to a higher ASM stage within ST-ASM
- NIL securities moving to a lower ASM stage within ST-ASM
- 12 securities exiting the ST-ASM Framework w.e.f. March 02, 2026
- Securities marked with
*(as per NSE) include R M Drip and Sprinklers Systems Ltd, Renaissance Global Ltd, and Shree Rama Newsprint Ltd among new entrants - Securities marked
@are SME scrips: Shanti Spintex Ltd (new entrant), Accretion Nutraveda Ltd and Icon Facilitators Ltd (exits) - Annexure III provides a consolidated list of all securities currently under ST-ASM with their respective stages
Regulatory Changes
Newly Shortlisted in ST-ASM Framework (Annexure I):
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 539946 | INE217E01014 | Bazel International Ltd |
| 2 | 531578 | INE580H01026 | KMF Builders & Developers Ltd |
| 3 | 540360 | INE715Q01029 | Leading Leasing Finance And Investment Company Ltd |
| 4 | 544456 | INE219Y01026 | R M Drip and Sprinklers Systems Ltd* |
| 5 | 532923 | INE722H01024 | Renaissance Global Ltd* |
| 6 | 544059 | INE0QZQ01019 | Shanti Spintex Ltd@ |
| 7 | 500356 | INE278B01020 | Shree Rama Newsprint Ltd* |
| 8 | 538923 | INE499Q01012 | Sofcom Systems Ltd |
Securities Exiting ST-ASM Framework (Annexure II):
| Sr No | Scrip Code | ISIN | Scrip Name | Reason for Exit |
|---|---|---|---|---|
| 1 | 544694 | INE1KVQ01019 | Accretion Nutraveda Ltd@ | SME exit |
| 2 | 506373 | INE795B01031 | Citurgia Biochemicals Ltd* | Moving to LT-ASM |
| 3 | 530079 | INE963C01033 | Faze Three Ltd** | Moving to Trade-for-Trade |
| 4 | 507910 | INE296C01020 | Fiberweb India Ltd** | Moving to Trade-for-Trade |
| 5 | 544426 | INE0Y0E01012 | Icon Facilitators Ltd@ | SME exit |
| 6 | 590041 | INE641C01019 | Kavveri Defence & Wireless Technologies Ltd** | Moving to Trade-for-Trade |
| 7 | 524522 | INE919B01011 | Laffans Petrochemicals Ltd | Standard exit |
| 8 | 524774 | INE887E01022 | NGL Fine Chem Ltd | Standard exit |
| 9 | 507690 | INE247F01018 | Orient Beverages Ltd** | Moving to Trade-for-Trade |
| 10 | 520111 | INE703B01027 | Ratnamani Metals & Tubes Ltd | Standard exit |
| 11 | 517286 | INE335Q01026 | Rnit Ai Solutions Ltd** | Moving to Trade-for-Trade |
| 12 | 539963 | INE819S01025 | Zeal Aqua Ltd** | Moving to Trade-for-Trade |
Compliance Requirements
- Trading members and investors in the newly listed ST-ASM securities must comply with enhanced margin requirements and applicable trading restrictions under the ST-ASM framework
- Securities under ST-ASM are subject to a 5/15/30-day surveillance cycle with escalating stages
- Members should note that securities marked
*are shortlisted as per NSE co-listing criteria - SME scrips (
@) under ST-ASM are subject to the same surveillance norms applicable to their segment - For securities exiting ST-ASM into LT-ASM or Trade-for-Trade, the respective framework’s compliance norms apply from March 02, 2026
Important Dates
- Effective Date: March 02, 2026 — all additions and removals from the ST-ASM framework take effect
- Circular Date: February 27, 2026
Impact Assessment
Newly Added Securities: The 8 securities entering the ST-ASM framework will face enhanced surveillance, additional margin requirements, and potential trading restrictions. Retail and institutional investors in these scrips should be aware of increased compliance requirements and possible liquidity impact.
Exiting Securities:
- 5 securities (Faze Three, Fiberweb India, Kavveri Defence, Orient Beverages, Rnit Ai Solutions, Zeal Aqua) transitioning to Trade-for-Trade represent an escalation of surveillance — these scrips will face stricter settlement norms
- 1 security (Citurgia Biochemicals) moving to LT-ASM indicates longer-term concerns warranting extended surveillance
- 3 securities (Laffans Petrochemicals, NGL Fine Chem, Ratnamani Metals & Tubes) appear to be exiting without escalation, potentially indicating improved compliance or normalized trading patterns
SME Segment: Two SME scrips (Accretion Nutraveda Ltd and Icon Facilitators Ltd) are exiting the framework, while one SME scrip (Shanti Spintex Ltd) is newly added, reflecting continued monitoring of the SME segment.
Impact Justification
Directly affects trading conditions for 20 securities; new ST-ASM inclusions impose trading restrictions and margin requirements while exits reflect transition to other frameworks (LT-ASM, Trade-for-Trade), with immediate market impact for investors and traders in these scrips.