BSE SME Exchange opens March 13 | SupportBiz

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BSE SME Exchange opens March 13

 
Six SMEs have approvals to list on the Exchange. Another seven to follow soon.

The Bombay Stock Exchange plans to formally launch its Small and Medium Enterprises (SME) Exchange on March 13. 

According to market regulator Securities and Exchange Board of India (SEBI), SMEs can raise between INR5 lakh and INR5 crore. A company whose post-issue capital has a face value in the range of INR50 lakh to INR10 crore can list on BSE’s SME Exchange.

“The public issue on our platform will be 100 per cent underwritten and merchant bankers will underwrite 15 percent on their own account. Also, there will be three years’ support in the secondary market through market making activity,” Lakshman Gugulothu, chief executive officer of the BSE SME Exchange was quoted as saying in a Tehelka article.

Six SMEs have been given approvals to enter the capital markets, while another seven are in the pipeline, Gugulothu adds.

Mumbai-based NBFC BCB Finance will be the first company to list on the SME Exchange. BCB Finance’s public issue of 35.4 lakh equity shares was “subscribed 1.5 times of the issue size,” he said.

Click here to learn more about the BSE's SME Exchange.

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