Startups can now get listed on BSE’s new platform to be launched July 9

BSE’s new platform will facilitate the listing of companies in sectors like IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce.

To make stock market listing attractive for startups, leading stock exchange BSE has decided to launch a new platform next month to list the new-age companies.

View of the education startup BYJU's headquarter in Bangalore. (Hemant Mishra/Mint)

This platform will facilitate the listing of companies in sectors like IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce.

Besides, the platform will aid in listing of companies from hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among other sectors.

In order to provide further incentive to startups, the exchange has announced BSE startup platform at its SME (small and medium enterprise) segment.

“We will launch the platform on July 9,” an exchange official said.

Spelling out the criteria for the listing on the platform, the exchange said a company needs to have a pre-issue paid up equity share capital of a minimum of ₹1 crore.

The company should be in existence for a minimum period of three years on the date of filing the draft prospectus with BSE. Besides, it should have a positive net-worth.

Further, the exchange said the firm seeking to list on the platform should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code and there should be no winding up petition against the company that has been accepted by NCLT.

With regard to disclosures and migration to the main board, regulation applicable to BSE SME segment will be applicable to such firm.

Earlier this month, markets regulator SEBI had set up a panel that will look at ways to ease such listings as the existing institutional trading platform framework failed to gain “any traction”.