BSE hopes to kick-start SME exchange in 2 months
The country's premier bourse Bombay Stock Exchange (BSE) is hopeful of launching its dedicated small-and-medium-enterprises (SME) exchange in the next two months, a senior official has said.
"We have got an in-principle approval from the market regulator Sebi late May, and are expecting the final approval anytime now and hope to get the exchange running in the next two months. We have the systems in place and are ready for launch," BSE Deputy Chief Executive Ashish Kumar Chauhan told PTI here today.
On May 25, the Sebi had given in-principle nod to the Asia's oldest bourse's proposal to launch a dedicated SME platform.
Rival National Stock Exchange (NSE) and privately-promoted MCX-SX, had also applied for Sebi's permission to launch SME exchanges last June.
With a view to let smaller firms access equity capital without the existing cumbersome process, Sebi had come out with guidelines for dedicated SEM exchanges last year.
As per the guidelines, small companies can do away with the practise of sending full annual reports and reporting quarterly numbers, considering their lean nature.