The Hindu Business Line : Stock exchanges wait for SEBI's norm on SMEs listing

NEW DELHI: After seeking permission from SEBI, country's leading stock exchanges BSE, NSE and MCX-SX now wait for norms to list small and medium enterprises (SMEs) on their platform, sources said.

The Securities and Exchange Board of India (SEBI) has received three applications and is working on the norms for allowing listing of SMEs in stock exchanges, a senior Finance Ministry official today said.

When contacted the promoter of MCX-SX, Financial Technologies India Ltd (FTIL) Group CEO and Chairman, Mr Jignesh Shah said, “We are eagerly waiting for listing norms. We are committed and capable of providing a stock exchange platform for SMEs.”

There are about one per cent of 14 million small and medium enterprises which qualify for listing and another 10 per cent can be motivated, he said on the sidelines of CII a function here.

According to market sources, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have also sought permission for the same.

Currently, companies having issue size of at least Rs 3 crore are allowed to list on the stock exchanges. Amid growing potential in SMEs, SEBI is working on regulatory guidelines with respect to listing and disclosure norms. - PTI

Next: Forex Rates

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line