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Eligibility for listing (also see the checklist below for ease of use)

Any public company which does not have any securities listed on any of the recognised stock exchanges in India and meets the following:
  • Regulatory criteria - The company, board of directors and promoters of the company is not a wilful defaulter or a sick company which has been referred to Board for Industrial and Financial Reconstruction in last five years or a winding up petition against the company has been admitted by a court or regulatory action has been taken by RBI, IRDA, SEBI or Ministry of Corporate Affairs in last five year.
  • Financial criteria – The revenues of the company do not exceed 100 crores in any of the previous financial years, or paid up capital of the company is not more than 25 crores.
  • Past funding criteria – The company has received investment of atleast 50 lakh rupees in equity shares from venture capital fund, alternative investment fund, angel investor or other categories of investors/lenders or received finance from a merchant banker for its working capital needs or project finance needs in last three years or a registered merchant banker or a qualified institutional buyer has invested atleast 50 lakh rupees in equity shares and their shares will be locked-in for a period of 3 years from the date of listing or a specialized international multilateral agency or domestic agency or a public financial institution has invested in the equity capital of the company.
  • Exchange criteria (BSE SME ITP) – The company must have minimum net tangible asset of rupees one crore or the net income of the company is not less than rupees 50 lakh. There is no change in the promoters of the company in last one year from the date of filing of application. In case the company has received investment from a merchant banker, the merchant banker must submit a due diligence certificate in a specified format.

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