Eligibility norms for Listing on BSE SME Platform and Migration to the Main Board of BSE

• Notice No: 20121126-17
• Notice Date: 26 Nov 2012
• Category: Compliance
• Segment: SME

CIRCULAR

BSE SME Platform

BSE Ltd.                            

DATE: 26-11-2012

To: All Trading Members of the BSE Ltd.

SUBJECT: Eligibility norms for Listing on BSE SME Platform and Migration to Main Board of BSE

Reference: Circular dated 19-04-2012 of BSE Ltd

BSE vide its circular dated 19^th April, 2012 has laid down the eligibility norms for the company desiring to get listed on its SME Platform and also the guidelines for migration from SME Platform to the Main Board of BSE. In addition to this following guidelines have been stipulated for listing on SME Platform. Further to this BSE is replacing the existing guidelines with the following  for migration from SME Platform to the Main Board of BSE:

1.    Conditions for listing on SME Platform through IPO

Companies seeking listing on BSE SME Platform through IPO are required to comply with the quantitative eligibility norms as prescribed by BSE.

In addition to compliance with the aforesaid eligibility norms, a visit to the company’s site will be undertaken by the Exchange before granting of approval to use the name of the Exchange in the offer document.

Additionally, it will be desirable for the company to file a compliance certificate by a Practicing Company Secretary as per the guidance note issued by the Institute of Company Secretaries of India as and when such a certification is made applicable by the SME Platform of BSE Ltd.

2.    Eligibility Criteria for Migration from BSE SME Platform to the Main Board

    The companies have to be mandatorily listed and traded on the SME Platform for a minimum period of two years and only after that they can migrate on to the Main Board as per the guidelines specified by SEBI vide their circular dated 18^th May, 2010 and as per the procedures laid down under ICDR guidelines Chapter XB.

In case of any clarification on the subject matter of the Notice, please contact:

Mr. Ajay Thakur on 022-2272 8291 ([e-mail] )

Ms. Soyal Gupta on 022-2272 8893 ([e-mail] )

Ms. Joy Benson on 022- 2272 8277 ([e-mail] )

Ajay Thakur

Manager

BSE SME Exchange