Reliance Infra shares in focus after firm faces curb on trading in shares; everything investors need to know

Reliance Infrastructure shares hit 5% upper circuit at ₹85.84 per unit on the National Stock Exchange (NSE) on Monday, June 8, as the company said it submitted a formal request to the market regulator and exchanges, seeking a review of the surveillance framework linked to the Insolvency and Bankruptcy Code (IBC).

Shares of the company had touched their one-year high of ₹423.40 apiece on June 30, 2025, while their 52-week low of ₹64.08 was hit on May 25, 2026.

The request was submitted to the Securities and Exchange Board of India (SEBI), the National Stock Exchange (NSE), and the Bombay Stock Exchange (BSE), according to a regulatory filing dated June 7.

Reliance Infrastructure has sought a review of the Additional Surveillance Measure (ASM) framework and the related trading restrictions on its shares, citing their adverse impact on its more than 7 lakh public shareholders. The company further emphasized the need to ensure that market mechanisms continue to facilitate fair price discovery and maintain investor confidence.

According to the regulatory filing, Reliance Infrastructure shares are otherwise actively and widely traded in the market, reflecting sustained investor participation and liquidity.

The company said the continuation of such anomalous and artificial trading restrictions is counterproductive to the interests of 7 lakh retail and small public shareholders and undermines the efficient functioning of the market.

The company further submitted that the impact of these restrictions falls disproportionately on its public shareholders.

“During lower-circuit phases, shareholders are often unable to exit their investments at a reasonable market price, while the value of their holdings erodes by a near-fixed percentage each week,” the company added.

In its representation, Reliance Infrastructure has proposed a calibrated approach that retains key risk-mitigation measures, including gross settlement, 100% margin requirements, Additional Surveillance Deposit (ASD), and price-band safeguards, while enabling more effective price discovery.

“The Company has requested regulators to consider alternatives such as a periodic call-auction mechanism or a wider and graded price band to facilitate genuine two-sided trading,” it said.

According to the company, the ASM framework was triggered despite the National Company Law Appellate Tribunal (NCLAT) staying both the insolvency admission order and the Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure.

No resolution professional has assumed control of the company, and its affairs continue to be managed by its duly constituted board of directors in the normal course of business, it said.

The company has a market capitalization of ₹3,507.69 crore.