Listing Requirements and Process
An issuer, whose post issue face value capital is upto twenty five crore rupees is eligible to get its securities listed on the SME platform. An Issuer has to take various steps prior to making an application for listing its securities on the SME Platform of the Exchange. These steps are essential to ensure the compliance of certain requirements by the Issuer before listing its securities on the Exchange. The various steps to be taken include:
The Issuer shall file the draft prospectus along with the documents mentioned in the checklist for IPO Vetting. The draft prospectus should have been prepared in accordance with the SEBI (ICDR) Regulations, other statutes, notifications, circulars, etc. governing preparation and issue of prospectus prevailing at the relevant time. The Issuers may particularly bear in mind the provisions of Companies Act, Securities Contracts (Regulation) Act, the SEBI Act and the relevant subordinate legislations thereto. NSE will peruse the draft prospectus only from the point of view of checking whether the draft prospectus is in accordance with the listing requirements, and therefore any approval given by NSE in respect of the draft prospectus should not be construed as approval under any laws, rules, notifications, circulars, guidelines etc.
Issuers desiring to list on the NSE pursuant to IPO shall make application for admission of their securities to dealings on the NSE in the forms prescribed in this regard as per details given hereunder or in such other form or forms as the Relevant Authority may from time to time prescribe in addition thereto or in modification or substitution thereof.