New Delhi, Aug 17 (KNN) The Bombay Stock Exchange (BSE) has changed the exiting criteria for migration of companies listed in its SME platform to its main board.

BSE SME, in a notification, said any company desiring to migrate to the Main board from the SME Board within two years of listing on SME platform of BSE has to fulfil certain conditions.

The increase in post issue face value capital beyond Rs 25 crore should arise only because of merger/acquisition or for expansion purposes.

The company should have a minimum turnover of Rs. 100 crore as per last audited financials and market capitalisation of 100 crore.

The company should have a minimum profit before tax of Rs 10 crore for two years out of three preceding years.

There should not be any action against the company by any regulatory agency at the time of application for migration.

“It is further clarified that for SME companies that apply for migration after a period of 2 years or more from the date of their listing on the SME platform, the norms mentioned at ‘a’ through ‘d’ above, will not apply,” BSE notification added.

The revised criteria has been applicable with effect from August 13, 2018. (KNN Bureau)