Description

Manilam Industries India Limited (MANILAM) will be transferred from the Trade for Trade segment (Series: ST) to the Rolling segment (Series: SM) effective March 16, 2026, following its SME IPO.

Summary

NSE has announced that Manilam Industries India Limited (Symbol: MANILAM), listed under the SME IPO segment, will be transferred from the Trade for Trade segment (Series: ST) to the Rolling segment (Series: SM) with effect from March 16, 2026. This is a standard post-IPO transition following the mandatory trade-for-trade period.

Key Points

  • Symbol: MANILAM (Manilam Industries India Limited)
  • Current segment: Trade for Trade (Series: ST)
  • Target segment: Rolling (Series: SM)
  • Effective date: March 16, 2026
  • Circular reference: NSE/CML/73030, Ref No. 0336/2026
  • Follows earlier Exchange Circular NSE/CML/73025 dated February 26, 2026
  • Transition is pursuant to SEBI guidelines vide circular CIR/MRD/DP/02/2012 dated January 20, 2012

Regulatory Changes

The transfer is governed by SEBI circular CIR/MRD/DP/02/2012 dated January 20, 2012, which mandates that newly listed SME IPO securities trade initially in the Trade for Trade (T2T) segment before migrating to the normal Rolling settlement segment after the stipulated period.

Compliance Requirements

  • All trading members must note the segment change effective March 16, 2026
  • Orders for MANILAM must be placed under Series SM (Rolling segment) from the effective date
  • Members should update their systems to reflect the new series designation

Important Dates

  • February 26, 2026: Prior Exchange Circular NSE/CML/73025 issued
  • February 27, 2026: Current circular issued (NSE/CML/73030)
  • March 16, 2026: Effective date of transfer from ST (Trade for Trade) to SM (Rolling segment)

Impact Assessment

This transfer from the Trade for Trade segment to the Rolling segment is a positive development for investors in Manilam Industries India Limited. In the Trade for Trade segment, each trade results in mandatory delivery, with no netting of positions allowed. Moving to the Rolling segment (SM) enables normal intraday trading, netting of buy and sell positions, and broader participation by traders and investors. This typically improves liquidity for the stock and is a routine milestone in the post-IPO lifecycle of SME-listed companies.

Impact Justification

Routine post-IPO segment transfer from Trade for Trade (ST) to Rolling (SM) for an SME-listed company, affecting trading mechanism for MANILAM shareholders from March 16, 2026.