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Jul 29, 2025

SEBI Extends Automated Implementation of Trading Window Closure

SEBI, by way of its Circulars dated August 5, 2022, and July 19, 2023, had introduced a framework for an automated system to restrict trading by Designated Persons (‘DPs’) of listed companies by freezing their Permanent Account Numbers (‘PAN’) at a security level, during the trading window closure period.

Considering the effective implementation of this framework for DPs, recently, by way of a Circular dated April 21, 2025, SEBI has extended this automated trading window closure mechanism to the immediate relatives of such DPs for listed companies.

The revised framework will apply to the top 500 listed companies (by BSE market capitalisation as of March 31, 2025) from July 1, 2025, and to all other listed companies (including companies which may get listed after the issuance of the Circular dated April 21, 2025) from October 1, 2025.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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