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Indian market regulator, Securities and Exchange Board of India (SEBI) said on Monday it does not require setting up a separate exchange for small and medium enterprises (SME).
"It doesn't have to be separate exchange (for SMEs)" Chairman C B Bhave, told reporters after a board meeting.
The paid-up capital of SME would be capped at 250 million rupees, Bhave said, adding small and medium firms would be required their issues to be fully underwritten.
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