Additional Eligibility Criteria for listing of Specified Securities on Institutional Trading Platform

• Notice No: 20150130-43
• Notice Date: 30 Jan 2015
• Category: Compliance
• Segment: SME

CIRCULAR

                                                                                                            BSE SME EXCHANGE

                                                                                                            BSE Ltd.

DATE: 30-01-2015

To: All Trading Members of the BSE Ltd.

SUBJECT: Additional Eligibility Criteria for listing of Specified Securities on Institutional Trading Platform

BSE launched its Institutional Trading Platform (SME – ITP) on 28^th November, 2013, whereby SME companies can achieve listing without coming out with an IPO.  Since then, in order to further strengthen the guidelines already laid down by SEBI in October 2013, BSE laid down certain additional eligibility criteria for companies seeking listing on the ITP Platform on 24^th March, 2014.

The SEBI circular dated October 24, 2013 laid down certain eligibility criteria  - especially as regards minimum investment in para 3(b)(viii). In continuation of and in addition to the same, BSE is now stipulating certain Additional Eligibility (Investment) Criteria for listing on Institutional Trading Platform of BSE SME which is as follows:

The minimum amount of investment shall be Rs. 10 crores or 25% of the listed capital of the ITP Company, whichever is higher. Further, the same should be locked in for a period of three years from the date of listing.

Bifurcation of Rs, 10 crores shall be as follows:

1. Minimum investment of Rs. 50 lakhs by entities in equity shares of the company as prescribed by SEBI in its above referred circular with a lock- in for a period of three years for all entities
2. Balance amount of investment as per above limits (i.e. rupees ten crores or more, as the case may be) by any other SEBI approved categories of investors like qualified institutional buyers, etc. with a lock-in period of 3 years from the date of  listing.

The above criteria would apply to all applications for listing on the ITP platform for which approval has not been given to the company by the Exchange, as of date of this circular.

In case of any clarification on the subject matter of the Notice, please contact:

Mr. Parth Shah on 022-2272 8893 ([e-mail] )

Mr. Abhishek Pandey on 022-22728424 ([e-mail])

Ajay Thakur,

Head- BSE SME