Listing

SME listing advisory services in Delhi

Listing refers to the company’s shares being on the list (or board) of stock that are officially traded on a stock exchange.

SME Listing

SME exchange is a stock exchange dedicated for trading the shares of ‘small and medium scale enterprises (SMEs)’ which, otherwise, find it difficult to get listed on the main exchanges. The concept originated from the difficulties faced by SMEs in gaining visibility or attracting sufficient trading volumes when listed along with other stocks in the main exchanges. We provide SME Listing Advisory Service in Delhi & SME Listing Advisory Service in Gurgaon

An exchange having nationwide connectivity and in which the securities of Small and Medium Enterprises (SME) will be traded is known as SME Exchange.

The concept has been introduced through Chapter X-B by the SEBI (ICDR) (Second Amendment) Regulations, 2011 w.e.f. 23.09.2011.

Regulation 106N (1) (c) of the ICDR Regulations, defines SME Exchange as a trading platform of a recognized stock exchange having nationwide trading terminals permitted by the SEBI to list the specified securities issued in accordance with chapter XB of the ICDR Regulations and includes a stock exchange granted recognition for this purpose but does not include the ‘Main Board’.

Where Regulation 106N (1) (a) of the ICDR Regulations, defines Main Board as a recognized stock exchange having national wide trading terminals, other than SME Exchange.

At present there are two platforms available for SME listing. They are:

  • NSE Emerge
  • BSE SME Platform

Both the exchanges have prescribed their own listing criteria. SME consultants in Delhi

SME listing advisory services in Noida

SECONDARY LISTING Secondary Listing refers to the Listing of companies which are already listed on other Exchanges. The companies which fulfill the criteria laid down by the Exchange from time to time are eligible to be listed on the Exchange. Presently, the companies which are already listed at regional exchanges can further get directly listed at BSE, NSE & MSEI subject to fulfillment of respective eligibility criteria.

DIRECT LISTING AT BSE

It is a process through which a company which is already listed on other stock exchange/s approaches BSE for listing of its equity shares. The companies fulfilling the eligibility criteria prescribed by the Exchange; from time to time; are listed on the Exchange.

Presently at BSE, Direct Listing is broadly divided into three categories

  • Companies which are listed with Nationwide Stock Exchange with average daily turnover greater than Rs 500 crores in equity segment.
  • Companies which are listed with Recognized Stock Exchanges/Nationwide Stock Exchange with average daily turnover less than Rs 500 crores in equity segment.
  • Companies whose names are appearing on Dissemination Board of Nationwide Stock Exchanges.

SME listing advisory services in Gurgaon

LISTING AT MSEI
  1. Companies exclusively listed on Regional Stock Exchanges
  2. Companies listed on Stock Exchanges having Nationwide Trading Terminals

COMPANIES EXCLUSIVELY LISTED ON REGIONAL STOCK EXCHANGES

ELIGIBILITY CRITERIA

The applicant Company whose securities that are proposed for secondary listing should have been exclusively listed companies of Regional/De-recognized/Nonoperational/Exited Stock Exchanges and must be present on dissemination board as on date of application.

The applicant Company shall have minimum issued and paid-up equity capital of Rs. 3 crore. However in case of NBFC company the minimum issued and paid-up equity capital of Rs. 5 crore is required.

The net worth (audited) of the Applicant Company as on date of application shall be at least Rs. 3 crore. However in case of NBFC company the net worth of Rs. 5 crore is required.

The applicant Company shall inter-alia comply with the following:

    • Companies Act, 1956/2013
    • Securities Exchange Board of India Act, 1992
    • Securities Contracts (Regulations) Act, 1956
    • Securities Contracts (Regulations) Rules, 1957
    • Securities and Exchange Board Of India (Issue Of Capital And Disclosure Requirements) Regulations, 2009
    • Any other guidelines, circulars, regulations issued by any regulatory authority from time to time.

The applicant Company shall have distributable profits in at least one out of the immediately preceding three financial years (profit shall be computed as per Section 123 of Companies Act 2013).

COMPANIES LISTED ON STOCK EXCHANGES HAVING NATIONWIDE TRADING TERMINALS

ELIGIBILITY CRITERIA

The applicant Company whose securities that are proposed for secondary listing shall be listed on Stock Exchange/s, having nationwide trading terminal.

The applicant Company shall have minimum issued and paid-up equity capital of Rs. 1 crore and market capitalization of the Company shall not be less than Rs. 1 crore.
(Market Capitalization shall be computed by multiplying the outstanding number of equity shares with average closing price derived during last three months or whatever trading history is available)

The applicant Company shall inter-alia comply with the following:

    • Companies Act, 1956/2013
    • Securities Exchange Board of India Act, 1992
    • Securities Contracts (Regulations) Act, 1956
    • Securities Contracts (Regulations) Rules, 1957
    • Any other guidelines, circulars, regulations issued by any regulatory authority from time to time.

In addition to the criteria mentioned above, the Exchange may also consider some additional factors for listing of securities on the Exchange.

SME listing advisory services in Pune

We provide SME Listing Advisory Service in Noida & SME Listing Advisory Service in Pune