Description
Vardhman Holdings Limited (VHL) will be transferred from trade for trade segment (series: BE) to rolling segment (Series: EQ) effective November 20, 2025.
Summary
NSE has announced the transfer of Vardhman Holdings Limited (VHL) from the trade for trade segment (series: BE) to the rolling segment (Series: EQ), effective November 20, 2025. This change is pursuant to SEBI guidelines vide circular reference no. CIR/MRD/DP/02/2012 dated January 20, 2012.
Key Points
- Vardhman Holdings Limited (Symbol: VHL) will move from BE series to EQ series
- Change is in continuation of previous circulars NSE/CML/71098 dated November 03, 2025 and NSE/CML/70850 dated October 15, 2025
- Transfer applies to Investment Companies (ICs) and Investment Holding Companies (IHCs)
- Governed by SEBI circular CIR/MRD/DP/02/2012 dated January 20, 2012
Regulatory Changes
This circular implements SEBI’s guidelines for reclassification of Investment Companies and Investment Holding Companies from trade-for-trade segment to rolling settlement segment.
Compliance Requirements
Members should note the change in trading series for VHL and adjust their trading systems accordingly. The security will trade in the EQ (rolling) series instead of BE (trade-for-trade) series from the effective date.
Important Dates
- Circular Issue Date: November 06, 2025
- Effective Date: November 20, 2025
Impact Assessment
The transfer from trade-for-trade (BE) to rolling segment (EQ) will provide enhanced liquidity and normal settlement cycles for VHL. This is a positive development for the stock as it moves from a more restrictive trading framework to regular rolling settlement, potentially improving trading volumes and accessibility for investors.
Impact Justification
Routine administrative change affecting single security transfer from trade-for-trade to rolling segment, minimal market-wide impact