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BSE has updated the list of securities subject to surveillance measures due to high promoter encumbrance under Regulation 28(3) of SEBI (SAST) Regulations, 2011. Securities listed in Annexure I are now subject to a minimum 35% margin requirement in the Equity and Equity Derivatives segments, effective August 7, 2026. This applies to all open positions as of August 6, 2026, and all new positions thereafter. Conversely, securities in Annexure II are removed from this framework effective August 5, 2026. Market participants are advised that this measure operates alongside existing surveillance protocols and is subject to periodic review. Companies wishing to contest their inclusion must submit representations to the Exchange by 5:00 PM on August 5, 2026.
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| Notice No. | 20260804-39 |
|---|---|
| Notice Date | 04 Aug 2026 |
| Category | Trading |
| Segment | Equity |
| Department | DOSS |
| Subject | Applicability of Surveillance Measure in respect of companies with high ‘Encumbrance’ as per Reg. 28(3) of SEBI (SAST) Regulation 2011 |
| Attachments | Annexure_High_Promoter_Pledge |
This is in continuation to Exchange notice no. 20191024-30 dated October 24, 2019 and 20200417-31 dated April 17, 2020, on the captioned subject.
Trading Members are hereby requested to take note of the following:
Market participants may note that this surveillance measure shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and shall be subjected to a periodic review.
Further, it may also be noted that the shortlisting of securities under this surveillance measure is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company / entity.
Any Company representation w.r.t being placed in the aforementioned framework should be received by Exchange latest by 5.00 PM on August 05, 2026, for its consideration.
In case of any clarifications, members are requested to refer the below links or write to us at bse.surv@bseindia.com.
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20191024-30
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200417-31
For & On behalf of BSE Ltd.
Sanjay Jain Deputy Vice President Surveillance
Arpita Joshi Manager Surveillance
