18 SMEs to launch their IPOs on BSE

Sharing is caring!

Bombay Stock Exchange (BSE) has given it’s green signal to 18 SMEs to float their initial public offers(IPOs) to fund business expansion and meet working capital requirements.

BSE has already given its consent to 12 SMEs and the other six have filed their draft offer documents with the exchange. They are awaiting its approval and are planning to list on BSE’s SME platform.

These companies include Trine Entertainment, OP Chains, Shareway Securities, SSPN Finance, Yogya Enterprises, Mahabir Metallex, Franklin Leasing and Finance, Funny Software, AGI Infra and Jiya Eco-Products.Currently.

A total of 86 companies are listed on the BSE’s SME platform raking in Rs 679.30 crore. The market capitalisation of these companies stands at over 7,000 crore. In comparison, six companies are listed on the SME platform of NSE.

Under the new rules, which take effect from April 1, companies looking to list on the BSE SME platform would be required to have post-issue paid up capital of a minimum Rs 3 crore as against the current requirement of Rs 1 crore. They would also be required to have networth of at least Rs 3 crore (as per the latest audited financial results). BSE had announced tightening of financial eligibility criteria for listing of SMEs to attract strong companies to the stock market last month.

So far, the firms were mandated to have a networth of Rs 1 crore.SMEs list themselves on bourses for easy access to capital, enhanced visibility, growth opportunities, exit route for old shareholders, among others.

If the SME meets the required regulations, it can seek migration to main board from SME exchange.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: