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Startup listing gets a new boost
To make stock market listing attractive for startups, leading stock exchange BSE has announced the creation of a new division within its SME segment to list newage companies The platform will facilitate the listing of companies in sectors like IT, ITeS, biotechnology and life sciences, 3D printing, space technology and ecommerce
To make stock market listing attractive for startups, leading stock exchange BSE has announced the creation of a new division within its SME segment to list new-age companies. The platform will facilitate the listing of companies in sectors like IT, ITeS, bio-technology and life sciences, 3D printing, space technology and e-commerce.
Besides, the platform will aid in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among other sectors.
“In order, to incentivise startup companies...the exchange is pleased to announce the creation of a new sub-segment within the existing SME (small and medium enterprise) segment,” BSE said in a circular. Spelling out the criteria for listing on the BSE startup platform, the exchange said the company should be registered as a startup with the Ministry of Micro, Small & Medium Enterprises or Department of Industrial Policy & Promotion.
In case the company is not registered as a start-up then its paid-up capital should be minimum Rs 1 crore. Among other criteria, the company should be in existence for a minimum period of two years, besides, qualified institutional buyer (QIB) or angel investor or any other accredited investor should have invested in the firm for a minimum period of two years at the time of filing of draft prospectus with the BSE.
