NSE revises criteria for listed SME companies to shift to main board

NSE revises criteria for listed SME companies to shift to main board

NSE on April 24 revised eligibility criteria for listed small and medium-sized enterprise (SME) companies to shift to main board.

SME companies should have been listed on SME platform of the exchange for at least 3 years, stated the revised eligibility criteria.

Also, the small companies should have Rs 10 crore paid-up capital to qualify for main board listing.

Promoter and Promoter Group shall be holding at least 20% of the company at the time of making application, said NSE.

Further, as on date of application for migration, the holding of promoter should not be less than 50% of shares held by them on the date of listing.

The revenue from operations should be greater than Rs 100 crore in the last financial year and should have positive operating profit from operations for at least 2 out of 3 financial years, said NSE

The total number of public shareholders should be at least 500 on the date of application, added NSE.

Here are the other conditions:

*No proceedings have been admitted under Insolvency and Bankruptcy Code against Applicant company and promoting company.
* The company has not received any winding up petition admitted by NCLT/IBC.
* The net worth of the company should be at least Rs 75 crore.
* No material regulatory action in the past 3 years like suspension of trading against the applicant Company and Promoter by any Exchange.
* No debarment of Company/Promoter, subsidiary Company by SEBI.
* No disqualification/debarment of director of the company by any regulatory authority.
* The applicant company has no pending investor complaints in SCORES.