New Delhi, Aug 11 (PTI) Stock exchange BSE on Monday strengthened the eligibility norms for both SME companies seeking migration to the mainboard and for firms listed on other bourses looking for direct
listing.
The move is aimed at “promoting transparency, disclosure and thereby improving the quality of listings,” BSE said in a statement.
As part of change, for migration of SME or direct listing on mainboard, the exchange has enhanced the requirement of operating profitability to Rs 15 crore for the last 3 financial years with minimum operating profit of Rs 10 crore in each of these fiscals, as against the previous criteria of positive operating profit for at least 2 out of 3 financial years.
Additionally, the minimum number of public shareholders has been increased from 250 to 1,000.
Further, companies seeking to be on the mainboard through migration or direct listing should have witnessed trading of at least 5 per cent of the weighted average number of equity shares listed during the past six months and have been trading on at least 80 per cent of days during such six-month period.
Also, companies are required to have net tangible assets of at least Rs 3 crore in each of the last 3 financial years and should have a compliance track record for 3 years. PTI SP SP SHW
