M.D Inducto Cast to migrate into BSE SME's Mainboard platform

New Delhi, Dec 2 (KNN) The equity shares of M.D. Inducto Cast that were earlier listed on the BSE SME portal is to migrate to the dealings of Mainboard platform.

BSE SME informed about the shuffle in a notification.

The portal notified it's trading Members of the Exchange that effective from Tuesday, December 5, 2017, the equity shares of M.D. Inducto Cast Limited which are already listed under BSE SME Platform will now be migrated & admitted to dealings on the Mainboard Platform in the list of ‘B’ Group.

With the company boarding to Mainboard , BSE SME listing shows a figure of 210 companies listed on the portal so far.

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 Initial Public Offer (IPO) as compared to a main bard listing of BSE which requires at least 1000 allottees for an IPO. (KNN/DA)