ENA MSME 2023-04-21 16:54:56 <p><span style="font-size:14px"><strong>Mumbai, Apr 21 (KNN)</strong> The National Stock Exchange of India Limited (NSE) on Thursday released a new migration framework for companies who want to move from SME platform to the main board.</span></p> <p><span style="font-size:14px">These companies will require the net worth of such firms be at least Rs 50 crore.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">For shifting to the main-board applicant should have been listed on the SME platform of the exchange for at least 3 years and the total number of public shareholders on the last day of the preceding quarter from the date of application should be at least 1,000, the bourse said in the circular.</span></p> <p><span style="font-size:14px">The applicant company must possess positive cash accruals (Earnings before Interest, Depreciation, and Tax) from operations for each of the three financial years preceding the migration application. </span></p> <p><span style="font-size:14px">Also, it is required to have positive profit after tax (PAT) in the immediate Financial Year of making the migration application to exchange. </span></p> <p><span style="font-size:14px">Among other criteria, the applicant company should not be referred to the Board of Industrial &amp; Financial Reconstruction (BIFR) and no proceedings have been admitted under Insolvency and Bankruptcy Code against the issuer and promoting companies. </span></p> <p><span style="font-size:14px">Further, the company should not receive any winding-up petition admitted by the NCLT.</span></p> <p><span style="font-size:14px">As per the framework, the paid-up equity capital of the applicant should be at least Rs 10 crore and the capitalisation of the applicant's equity should not be less than Rs 25 crore.</span></p> <p><span style="font-size:14px">NSE said the applicant desirous of listing its securities on the main board, should have made disclosures for all material litigation and regulatory action to the stock exchanges where its shares are listed in an adequate and timely manner. <em><strong>(KNN Bureau)</strong></em></span></p> 33072 https://knnindia.co.in/news/newsdetails/msme/nse-introduces-new-migration-policy-from-sme-platform-to-main-board 2023-04-21 16:54:56 knnindia.co.in