Description
BSE announces additions and removals from the surveillance measure list for companies with high promoter encumbrance under SEBI (SAST) Regulation 28(3), effective March 05, 2026. Four securities are added and four are removed, with a consolidated list of 13 securities.
Summary
BSE has updated the list of securities under the Surveillance Measure for companies with high promoter encumbrance as per Regulation 28(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Effective March 05, 2026, four new securities are added (Annexure I), four securities are removed (Annexure II), and the consolidated active list comprises 13 securities (Annexure III).
Key Points
- 4 securities added to the high encumbrance surveillance list effective March 05, 2026
- 4 securities removed from the list effective March 05, 2026
- 13 securities remain on the consolidated active surveillance list
- Securities marked with (*) are listed as per NSE data
- Removals may be due to inclusion in LT-ASM, ST-ASM, or high Promoter & non-Promoter Encumbrance Framework
Regulatory Changes
This update is made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 — Regulation 28(3), which mandates surveillance measures when promoter encumbrance levels are deemed high. The circular reflects a periodic review and rebalancing of the watchlist.
Compliance Requirements
- Trading members and investors should note the revised surveillance status of the affected securities
- Additional margins or trading restrictions may apply to securities on the surveillance list
- Market participants holding or trading in these scrips must factor in the surveillance framework conditions
- Companies on the list with (*) marking are identified based on NSE data
Important Dates
- Effective Date: March 05, 2026 — all additions and removals come into force
- Circular Date: March 04, 2026
Impact Assessment
Newly Added Securities (Annexure I — effective March 05, 2026):
| Sr No | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 542919 | INE025R01021 | Artemis Medicare Services Ltd* |
| 2 | 543482 | INE0KCE01017 | Eureka Forbes Ltd* |
| 3 | 544362 | INE093A01041 | Hexaware Technologies Ltd* |
| 4 | 544282 | INE0W2G01015 | Sagility Ltd* |
Removed Securities (Annexure II — effective March 05, 2026):
| Sr No | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 543490 | INE0CU601026 | GMR Power and Urban Infra Ltd |
| 2 | 531120 | INE244B01030 | Patel Engineering Ltd |
| 3 | 533122 | INE399K01017 | RattanIndia Power Ltd |
| 4 | 507205 | INE133E01013 | Tilaknagar Industries Ltd |
Consolidated Active List (Annexure III — 13 securities):
| Sr No | Scrip Code | ISIN | Company |
|---|---|---|---|
| 1 | 544280 | INE101I01011 | Afcons Infrastructure Limited* |
| 2 | 542919 | INE025R01021 | Artemis Medicare Services Ltd* |
| 3 | 543064 | INE03QK01018 | Cohance Lifesciences Ltd* |
| 4 | 543482 | INE0KCE01017 | Eureka Forbes Ltd* |
| 5 | 530343 | INE955D01029 | Genus Power Infrastructures Ltd |
| 6 | 544362 | INE093A01041 | Hexaware Technologies Ltd* |
| 7 | 500188 | INE267A01025 | Hindustan Zinc Ltd* |
| 8 | 522285 | INE854B01010 | Jayaswal Neco Industries Ltd* |
| 9 | 532650 | INE752G01015 | MSP Steel & Power Limited* |
| 10 | 544282 | INE0W2G01015 | Sagility Ltd* |
| 11 | 544545 | INE0MWH01014 | Trualt Bioenergy Ltd* |
| 12 | 500295 | INE205A01025 | Vedanta Limited* |
| 13 | 544488 | INE078V01014 | Vikram Solar Ltd* |
The placement of securities under this surveillance measure signals elevated regulatory scrutiny due to high promoter share pledging/encumbrance, which can indicate financial stress or governance concerns. Investors in these securities should exercise caution and monitor developments closely.
Impact Justification
This circular directly affects trading conditions for multiple listed securities under a regulatory surveillance framework, with immediate market implications including potential trading restrictions for 13 companies effective March 05, 2026.