Description

NSE updates the list of securities under Additional Surveillance Measure (ASM) for companies undergoing Insolvency and Bankruptcy Code (IBC) proceedings, effective November 03, 2025.

Summary

NSE has issued an update on the Additional Surveillance Measure (ASM) framework for companies undergoing Insolvency and Bankruptcy Code (IBC) proceedings. Four securities are being moved to the ‘Receipt of corporate announcement/disclosure from the company’ category effective November 03, 2025. The consolidated list shows 16 securities currently under ASM for IBC, with 5 in Stage I and 11 in the announcement receipt category.

Key Points

  • No new securities entering ASM for IBC Stage I
  • No securities moving between Stage I and Stage II
  • Four securities moved to ‘Receipt of corporate announcement/disclosure’ category: GENSOL, SANCO, SICALLOG, SWANDEF
  • No securities being excluded from ASM for IBC
  • Total 16 securities currently under ASM for IBC framework
  • Five securities in Stage I: Eastern Silk Industries Limited, Jaiprakash Associates Limited, Ujaas Energy Limited, Indosolar Limited, Goenka Diamond and Jewels Limited

Regulatory Changes

The circular implements periodic updates to the ASM framework for IBC cases, categorizing securities based on their IBC status and corporate disclosures. Securities under this measure face enhanced surveillance and potential trading restrictions based on their stage classification.

Compliance Requirements

  • Trading members must note the updated classification of affected securities
  • Enhanced due diligence required for transactions in ASM-IBC securities
  • Market participants should monitor corporate announcements from companies in the ‘Receipt of announcement’ category
  • Brokers must ensure clients are aware of ASM applicability on these securities

Important Dates

  • Effective Date: November 03, 2025 - Updated ASM for IBC classifications come into effect

Impact Assessment

The measure affects trading conditions for 16 securities, potentially impacting liquidity through enhanced surveillance mechanisms. Securities in Stage I face stricter trading parameters, while those in the announcement receipt category are monitored for IBC-related disclosures. The movement of four securities (GENSOL, SANCO, SICALLOG, SWANDEF) to the announcement category suggests ongoing IBC developments that require close monitoring. Investors should exercise caution and conduct thorough due diligence before trading in these securities.

Impact Justification

Affects trading conditions for multiple securities under IBC proceedings through ASM framework, impacting liquidity and trading parameters for affected stocks.