CIRCULAR
BSE SME EXCHANGE
BSE Ltd
DATE: 24-03-2014
To: All Trading Members of the BSE Ltd.
Reference: BSE Notice No. 20120419-4 dated 19th April 2012 on BSE SME Platform and Circular No. CIR/MRD/DSA/33 /2013 dated 24-10-2013 of SEBI on Institutional Trading Platform
SUBJECT: Additional Eligibility Criteria for Listing on BSE SME Platform and Institutional Trading Platform.
Vide above references, BSE and SEBI have came out with Additional Eligibility Criteria on SME Platform and guidelines on Institutional Trading Platform respectively. In continuation of said notices BSE is now stipulating certain Additional Eligibility Criteria for Listing on BSE SME Platform and Institutional Trading Platform of BSE SME which are as follows :
Additional Eligibility Criteria for BSE SME Platform:
There should not be any change in the promoters of the company in preceding one year from date of filing the application to BSE for listing under SME segment.
Additional Eligibility Criteria for BSE SME ITP Platform:
The company shall additionally comply with ALL the following criteria:
1. The company shall satisfy at least one of the following criteria as on the date of application:
Net tangible assets of minimum Rs. 1 crore (net fixed assets plus net current assets)
OR
Net income* (excluding extraordinary and other income) of Rs.50 lacs as per the latest audited financials
*(Net income = sales - purchases)
2. There should not be any change in the promoters of the company in preceding one year from date of filing the application to BSE for listing under ITP segment.
3. Companies have to compulsory sign agreement with both the depositories.
4. In cases where merchant banker has made the investment in the company the MB would need to submit a Due Diligence Certificate in the format (Form A & H) as is prevailing in SME regulations.
The notice will be applicable with immediate effect.
In case of any clarification on the subject matter of the Notice, please contact:
Mr. Ajay Thakur on 022-2272 8291 (ajay.thakur@bseindia.com)
Mr. Parth Shah on 022-2272 8893 (parth.shah@bseindia.com )
Ajay Thakur
Head – BSE SME
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