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BSE to launch platform for start-ups; listings to begin from July 9

Updated: Jun 26, 2018 10:04:38am

BSE to launch platform for start-ups; listings to begin from July 9

Mumbai, Jun 26 (KNN) The Bombay Stock Exchange (BSE) is all set to launch a platform for start-ups, the listing for which would begin from July 9 this year.

The platform will facilitate listing of companies from IT, ITeS, biotechnology and life science, 3D printing, space technology, e-commerce, Hi-tech defence, drones, nano technology, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering, variable computers inside body computer technology and any other hi-tech sectors.

In a circular, the stock exchange said, "To provide further incentive to companies which are 'startups' in sectors like IT, ITeS, biotechnology and life sciences, the exchange is pleased to announce that the BSE Startup Platform has been enabled in the BSE SME Segment."

The eligibility criteria for listing on the BSE Startup Platform includes that the pre-issue paid-up equity share capital of the company should be minimum of Rs 1 crore. In addition to this, the company should be in existence for a minimum of three years on the date of filing of the draft prospectus with BSE.

They should preferably have investments by QIB investors (as defined under Sebi ICDR Regulations, 2009) /angel investors for a minimum of two years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs 1 crore and the company should have a positive networth.

The company should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016 and no winding up petition against it must have been accepted by the National Company Law Tribunal (NCLT).

Companies listing on the BSE Startup Platform will also follow all other conditions applicable for listing of SME Companies under Chapter XB of "SEBI (ICDR) Regulations, 2009", relating to disclosures, migration to main Board, etc," BSE said.


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