SME exchange for smaller firms

Sebi is reviewing regulations that allow companies without any profitability or track record to raise capital and list on the main bourses. Usha Narayanan, executive director at Sebi, said the regulator was considering asking smaller companies to list on the SME platform initially. Speaking at the Oxford-India business forum 2012, she said, “Smaller issues are the ones which are creating the most problems in terms of surveillance, manipulation or illiquidity.”