BSE SME gets its 178th company; BSE SME chief calls upon Noida SMEs to join the bourse

Mumbai, Apr 17 (KNN) With the increasing number of companies getting listed with the SME exchange of BSE in the past one month, it seems the exchange is close to achieve its target of listing 200 companies by June this year.

The equity shares of Mumbai based Escorp Asset Management Limited got listed with BSE SME today.

In a notification, BSE SME said, “Trading Members of the Exchange are hereby informed that effective from Monday, April 17, 2017 the Equity Shares of Escorp Asset Management Limited shall be listed and admitted to dealings on the SME Platform of Exchange in the list of ‘M’ Group of Securities.”

Meanwhile, the Head of BSE SME Ajay Thakur recently interacted with the Noida SMEs recently over how should get equity listed at the BSE on the BSE-SME platform.

Thakur interacted with the Indian Industries Association (IIA) explaining its members on how raising funds through equity is increasingly becoming feasible for the sector.

"It is a feasible route for SMEs to procure funding through equity listing and it can take an SME to take the IPO route and go to a new level of growth," Thakur stated at the event. The event was attended by IIA members from across Noida and Greater Noida.

Noida presently has close to 9000 small and medium scale enterprises operating out of its industrial sectors and SEZ region.

To get listed with the BSE SME division, an enterprise should meet certain basic criterion. The net tangible asset of the enterprise post latest audit should be Rs 3 crore. Track record of distributable profits in terms of section 123 of the Indian Companies Act 2013 for at least two years. The post-paid up capital of the company should be at least Rs3Cr.

The net worth of the company should be at least Rs 5 crore. The minimum allottees needed for the BSE SMEs is only 50 for an Intial Public Offer (IPO) as compared to a main bard listing of BSE which requires at least 1000 allottees for an IPO.

The BSE SME members can also have the option of shifting to the main board of BSE once their paid-up capital crosses Rs 10 crore.

So far, 178 SMEs from all over the country have got listed with BSE SME out of which 25 have migrated to the mainboard BSE. The BSE SME platform was formed in 2012. (KNN Bureau)