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BSE-SME strengthens entry norms for SME exchange

Tags: BSE SME exchange, BSE, SME, MSME, IPO, paid up capital

February 16, 2015 | COMMENTS ( 2 )

BSE-SME strengthens entry norms for SME exchange

BSE SME, which enables the listing of SMEs from the unorganised sector into a regulated and organized sector, has announced the eligibility criteria to strengthen the entry norms for SME exchange.

At present, 83 Companies are listed on BSE-SME platform as on February 4, 2015. The Exchange has stipulated certain financial and non-financial eligibility criteria or norms for listing on SME platform in addition to the SEBI guidelines for listing of SME as laid down in the Issue of Capital and Disclosure Regulations.

Existing norms: The post-issue paid up capital of the company shall be at least Rs 1 crore.

Revised norms: The post-issue paid up capital of the company shall be at least Rs 3 crore. 

Existing norms: Net worth (excluding revaluation reserves) shall be at least Rs 1 crore as per the latest audited financial results.

Revised norms: Net worth (excluding revaluation reserves) of at least Rs 3 crore as per the latest audited financial results.

Existing norms: Net Tangible Assets of at least Rs 1 crore as per the latest audited financial results.

Revised Norms: Net Tangible Assets of at least Rs 3 crore as per the latest audited financial results.

Existing norms: Distributable profits in terms of Section 205 of the Companies Act 1956 for at least two years out of immediately preceding three financial years (each financial year has to be a period of at least 12 months). Extraordinary income will not be considered for the purpose of calculating distributable profits or net worth shall be at least Rs 3 crore.

Revised norms: Distributable profits in terms of Section 123 of the Companies Act 2013 for at least two years out of immediately preceding three financial years (each financial year has to be a period of at least 12 months). Extraordinary income will not be considered for the purpose of calculating distributable profits or net worth shall be at least Rs 5 crore.

The above revised criteria would be applicable with effect from April 1, 2015.

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