Guidelines for Migration of SME to Mainboard

Parameter

NSE

BSE

Paid up capital and market capitalisation

a. Paid up capital is equal to or more than Rs 10 cr.
b. Market capitalisation is equal to or more than Rs 25 cr.

a. Paid up capital is equal to or more than Rs 10 cr.
b. Market capitalisation is equal to or more than Rs 25 cr.

Capitalisation= Price * Post Issue no. of equity shares
(Price= average
of the weekly high and low of the closing prices of the related shares
quoted on the stock exchange during 3 months preceding the application
date)

Capitalisation= Price * Post Issue no. of equity shares
(Price= average
of the weekly high and low of the closing prices of the related shares
quoted on the stock exchange during 3 months preceding the application
date)

Promoter Holding

-

Promoter(s) shareholding shall be at least 20% of equity share capital of the company at the time of making application.

EBITDA

Positive EBITDA for each of the 3 financial years preceding the migration application.

Positive EBITDA for any 2 out of 3 financial years preceding the migration application.

PAT

Positive PAT in the immediate Financial Year of making the migration application to Exchange.

Positive PAT in the immediate Financial Year of making the migration application to Exchange.

Listing Period

listed on the SME platform of the Exchange for at least 3 years.

listed on the SME platform of the Exchange for at least 3 years.

Net Worth

Equal to or more than Rs 50 cr

Should have a Net worth of at least Rs 15 crores for 2 preceding full financial years.

No. of Public shareholders

Total number of public shareholders on the last day of preceding quarter
from date of application should be at least 1000.

Total number of public shareholders on the last day of preceding quarter from date of application should be at least 250.

Other Conditions

a.  Company has not referred to the Board of Industrial & Financial Reconstruction (BIFR)
b. No proceedings have been admitted under Insolvency and Bankruptcy Code against the issuer and Promoting companies.
C.  The company has not received any winding up petition admitted
by a NCLT.

a.No material regulatory action in the past 3 years like suspension of trading against the applicant company, promoters/promoter group by any stock Exchange having nationwide trading terminals.
b. No Debarment of company, promoters/promoter group,
subsidiary company by SEBI.
c. No Disqualification/Debarment of directors of the company by any regulatory authority.
d.  The applicant company has not received any winding up petition admitted by a NCLT.
e. No pending defaults in respect of payment of interest.
f. No pending investor complaints.
g.   Cooling off period of 2 months from the date the security has come out of trade-to-trade category or any other surveillance action.