BSE Creates New Division For Listing Of Startups
The platform will facilitate the listing of companies in sectors like IT, ITeS, bio-technology and life sciences, and e-commerce.
![Branded security tape is displayed at the Bombay Stock Exchange. (Photographer: Dhiraj Singh/Bloomberg)](https://media.assettype.com/bloombergquint%2F2017-01%2F4677c43e-666a-4e01-8660-66e9d5c66181%2F304870612_1-17.jpg?rect=0%2C227%2C4000%2C2250&auto=format%2Ccompress&w=200)
To make stock market listing attractive for startups, the Bombay Stock Exchange announced the creation of a new division within its small and medium enterprise segment to list new-age companies.
The platform will facilitate the listing of companies in sectors like IT, ITeS, bio-technology and life sciences, 3D printing, space technology and e-commerce, the bourse said in a circular.
The platform will also aid in listing of firms from sectors such as hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among others.
Spelling out the criteria for listing on the BSE startup platform, the exchange said the company should be registered as a startup with the Ministry of Micro, Small & Medium Enterprises or Department of Industrial Policy & Promotion.
In case the company is not registered as a startup then its paid-up capital should be a minimum of Rs 1 crore.
Among other criteria, the company should be in existence for a minimum period of two years, and a qualified institutional buyer or angel investor or any other accredited investor should have invested in the firm for a minimum of two years at the time of filing of draft prospectus with the BSE.
The firm should have positive net-worth and none of the promoter or directors of the company have been debarred by any regulatory agency.
The firm seeking to list on the platform should not have been referred to National Company Law Tribunal under Insolvency and Bankruptcy Code and there should be no winding up petition against the company that has been accepted by NCLT, according to the exchange.
The BSE had announced that it would launch the startup platform in its SME segment on July 9, which was postponed.