Companies wanting to list on an SME exchange would not be required to submit financial numbers every quarter and can also do away with sending the complete annual report. These are some of the relaxations provided by the Securities and Exchange Board of India (Sebi) to companies that intend to list their shares on SME exchange rather than the main board.
"Certain relaxations are provided to the issuers whose securities are listed on SME exchange in comparison to the listing requirements in Main Board," said Sebi in a circular issued on Tuesday.
According to the Sebi circular, companies listed on SME exchange can send only a statement containing the salient features of all the documents as required by the regulations instead of sending the full annual report to its shareholders.
Further, periodical financial results may be submitted on a half-yearly basis rather than on a quarterly basis. Companies listed on SME exchange also need not publish their financial results, as required in the Main Board and can make it available on their website.
The market regulator highlighted the fact that it wants to encourage promotion of dedicated exchanges and/or dedicated platforms of the exchanges for listing and trading of securities issued by small and medium enterprises (SME).
Other diginatories which are attending the meeting include heads of the PSUs and state energy secretaries
Two major kharif crops, cotton and groundnut, completed sown in 95% and 77% areas respectively