Trading Members desirous of upgrading their trading membership from individual or partnership firm to a corporate should take note of the following:

• A request has to be sent by the Trading Member of the scheme of upgradation and the proposed shareholding pattern of the corporate.
• In case of an upgradation from individual to corporate, the individual should hold at least 51% of the paid up capital of the proposed corporate.
• In case of an upgradation from partnership firm to corporate, the original partners should hold at least 51% of the paid up capital of the proposed corporate.
• There should be at least 2 qualified directors who should be graduates with minimum 2 years experience in stock broking related activities.
• The proposed corporate should have a minimum paid up capital of Rs. 30 lakhs and meet the net worth requirements of the Exchange from time to time.
• After the upgradation is approved by the Exchange, the Trading Member will have to pay the differential deposits as applicable to corporate Trading Members.

Download Stage I-Prior approval from Exchange for upgradation of membership (.zip)

Download Stage II- Application for SEBI registration after receipt of Exchange approval (.zip)

Download Stage III-Enablement after SEBI registration (.zip)