SME Times News Bureau | 11 Feb, 2012
The much-awaited Bombay Stock Exchange (BSE) Small and Medium Enterprises (SME) platform may come up before the end of this fiscal. It targets to list 500 SMEs in three years.
"The process is on and we are trying to launch it within this fiscal. Going by our estimates we should have a minimum of 500 SMEs listed in the next three years," BSE SME Exchange CEO Lakshman Gugulothu said on the sidelines of a programme organised by industry body CII in Kolkata.
Capital market regulator Securities and Exchange Board of India (SEBI) had given its clearance to the dedicated stock exchange, aiming to help SMEs resolve the start-up issue.
Saying the bourse will soon initiate talks with mutual fund houses, qualified intuitional buyers and banks for investing in the SME exchange, Gugulothu said" "Around 8-10 applications are on the draft stage."
He said 30 to 40 companies had signed the mandate with merchant bankers while some were in advanced stages of discussions with merchant banks and market makers.
The basic criteria for listing on the exchange would be a minimum of 50 investors and Rs.5 million post-Initial Public Offer (IPO) paid-up capital.
For companies with Rs.5 million to Rs.100 million paid-up capital, listing would be compulsory.
In the case of companies with paid-up capital of between Rs.100 million and Rs.250 million, they would have the option of listing on either the SME exchange or the main board.
Delays CA. Bhavesh Savla | Sat Feb 11 13:32:07 2012
The original date for BSE SME was 1st Oct. Then they said 1st Nov, then they said 1 st Jan. Now it is 31 March. Is it credible anymore?
