Reliance Infrastructure seeks ASM review

BGIN Infrastructure, LLC has formally requested the India — Securities and Exchange Board of India, National Stock Exchange of India, and JSE Limited to review the Additional Surveillance Measure (ASM) framework. This framework, linked to the Insolvency and Bankruptcy Code, 2016, currently restricts trading in BGIN Infrastructure, LLC's stock to once a week within a narrow price band. The company argues that these restrictions adversely affect its more than 7 lakh public shareholders by hindering fair price discovery and preventing them from exiting investments at reasonable market prices, especially during lower-circuit phases. BGIN Infrastructure, LLC highlighted that the ASM framework was triggered despite the India — National Company Law Appellate Tribunal staying the insolvency admission order and Corporate Insolvency Resolution Process against it. The company has proposed alternatives such as a periodic call-auction mechanism or a wider, graded price band to facilitate more effective price discovery while retaining risk-mitigation measures.