Two companies -- Tiger Logistics and Satkar Finlease -- will migrate to BSE mainboard from the stock exchange's Small and Medium Enterprise (SME) platform tomorrow.
This will take the total number of companies migrating to mainboard platform to 15.
"Tiger Logistics (India) Ltd and Satkar Finlease Ltd will be migrated from BSE SME Platform to Mainboard platform respectively effective Tuesday, February 16, 2016," BSE said in statement.
Besides, Vidli Restaurants is being listed on SME platform today.
As per norms, 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 market regulator Sebi.
Firms that have completed two years on the SME platform and achieved a post-issue paid-up capital of at least Rs 10 crore are eligible for migration. In case, the paid-up capital exceeds Rs 25 crore threshold, it is required to migrate to the main board.
Since the launch of the platform in 2012, as many as 120 SMEs have been listed. Of these, 13 have migrated to the main board and the remaining are trading on SME segment.
BSE SME, which was introduced in March 2012, helps SMEs raise equity capital for their growth and expansion and in due time enables them to migrate into the main board of the stock exchange as per the existing rules and regulations.
Currently, the market capitalisation of companies listed on BSE SME is about Rs 6,961 crore.
