BSE tightens eligibility norms for listing on SME platform

The Bombay Stock Exchange (BSE) has tightened eligibility norms for companies seeking to list on its small and medium exchange (SME) platform, which includes mandatory visits by exchange officials to the companies’ premises.

Companies are required to file a compliance certificate by a practising company secretary, according to the guidance note issued by the Institute of Company Secretaries of India, as and when such a certification is made applicable by the SME platform of BSE, the exchange said in a circular. It said in case a company plans to migrate from its SME platform to the main exchange, they are required to first trade on the SME section for a minimum period of two years

“The companies have to be mandatorily listed and traded on the SME platform for a minimum period of two years and only after that they can migrate on to the main board, as per the guidelines specified by Sebi,” the exchange said.