In a boost to the startup ecosystem the Bombay Stock Exchange will launch a platform on July 9 to list new-age companies in sectors like IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce .
Which start-ups are eligible?
- To be eligible for listing, a company needs to have a pre-issue paid up equity share capital of a minimum of Rs 1 crore
- The company should be in existence for a minimum period of three years on the date of filing the draft prospectus with BSE
- It should have a positive net-worth
- The companies should preferably have investment by qualified institutional buyer (QIB investors)/ angel investors for a minimum period of two years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs 1 crore.
- The firm seeking to list on the platform should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code and there should be no winding up petition against the company that has been accepted by NCLT.
- The platform will also aid in listing of companies from hi-tech defence, drones and nano technologies.
- Companies listing on the BSE Startup Platform will also follow all other conditions applicable for listing of SME Companies under Chapter XB of “SEBI (ICDR) Regulations, 2009”, relating to disclosures, migration to main Board, etc