175th company gets listed BSE SME exchange

The BSE SME is fast moving towards getting 200 companies on board with two more SMEs joining the bourse.

Now the total number of listed companies has gone upto 175. With 25 companies migrating to main board BSE so far, and 2 companies suspended, the exchange as 148 companies eligible for trading.

Both the companies joining the exchange today are from Gujarat. Jamnagar based Oceanic Foods Limited and Ahmedabad based Prime Customer Services Limited got listed with BSE SME.

Oceanic Foods Limited is a manufacturer - exporter of dehydrated spices & vegetables and has won National and International Awards for outstanding export performances.

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SME eligibility criteria for listing on the main board

A private limited company, proprietary firm or a partnership firm first of all needs to be converted into a public limited company to be listed on the BSE SME Exchange and NSE's Emerge.

Both the exchanges have their own eligibility criteria for SME listings in addition to the SEBI norms for listing.

Parameters for listing on the BSE SME Exchange are as follows:

1. The company should have net tangible assets of at least Rs 3 crore in the latest audited financial results.

2. The net worth should be at least Rs 3 crore as per the latest audited financial results.

3. The post-issue paid up capital of the company shall be at least Rs 3 crore and should not exceed Rs 25 crore.

4. The company shall enter into an agreement with both the depositories and mandatorily facilitate trading in demat securities.

5. The minimum application and trading lot size shall not be less than Rs 1,00,000.

6. The merchant bankers shall underwrite 15 per cent in their own account and the issue shall be 100 per cent underwritten.

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