Criteria for New Listing


The Company shall be incorporated under the Companies Act, 1956.


  • Post Issue Paid up Capital
    The post issue paid up capital of the company (face value) shall not be more than Rs. 25 crores.
  • Networth
    Positive Networth.
  • Tangible Asset
    Net Tangible Assets should be Rs 1.5 Crore.
  • Track Record
  • The company or the partnership/proprietorship/LLP Firm or the firm which have been converted into the company should have combined track record of at least 3 years.
  • Or
  • In case it has not completed its operation for three years then the company/partnership/proprietorship/LLP should have been funded by Banks or financial institutions or Central or state government or the group company should be listed for at least two years either on the main board or SME board of the Exchange.
  • The company or the firm or the firm which have been converted into the company should have combined positive cash accruals (earnings before depreciation and tax)in any of the year out of last three years and its net worth should be positive
  • .

Other Requirements

  • It is mandatory for a company to have a website.
  • It is mandatory for the company to facilitate trading in demat securities and enter into an agreement with both the depositories.
  • There should not be any change in the promoters of the company in preceding one year from date of filing the application to BSE for listing under SME segment.

Criteria for broking companies

  • Net worth of minimum , 5 crores with profit before tax of , 5 crores in any 2 years out of 3 financial years. Or
    having net worth of, 25 crores with profit in any 3 years out of 5 financial years. The Financial year should be for a period of 12 months. Extraordinary income will not be considered for the purpose of profits. (The Net worth will include equity, Preference Shares, reserves and Surplus).
  • The Net Tangible assets of at least ,3 Crores as per the latest audited financial results.
  • Post issue paid up capital of the Broking Member should be minimum, 3 crores.

Micro Finance Companies:

Micro finance companies, in addition to the existing criteria for all SME companies, should have a book value of at least ,100 Crores , client base of 10000 & above and it should not have accepted / held public deposit.


A certificate from the applicant company / promoting companies stating the following

a) " The Company has not been referred to the Board for Industrial and Financial Reconstruction (BIFR)."

Note: Cases where company is out of BIFR is allowed.

b) There is no winding up petition against the company, which has been admitted by the court or a liquidator has not been appointed.