Bombay Stock Exchange To Launch A Platform To List Startups From 9 July

The Bombay Stock Exchange will launch a platform on 9 July to list new-age companies in sectors like IT, ITES, biotechnology and life sciences, 3D printing, space technology and e-commerce in a boost to startups. 

“In order to provide further incentive to startups, the exchange has announced BSE startup platform at its SME (small and medium enterprise) segment. We will launch the platform on July 9,”

an official said. 

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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 a 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 exchange said.
• 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 the listing of companies from a hi-tech defense, drones, and nanotechnologies.

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