The BSE platform shall allow listing of startup firms from July 9 provided the company seeking listing have a pre-issued paid up equity capital of Rs. 1 crore minimum. The company should also be in existence for a minimum of 3 year as on the date of filing the draft prospectus with the exchange.
In one of the leading dailies, one of the official is quotes as saying, "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".
The new platform that will be launched on July 9 will aim at listing new-age companies from across different sectors such as IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce for boosting the startup segment.
Also, the platform will enable the listing of companie from drones, nano technologies and hi-tech defence sector.
The statement released said, that the companies proposing listing should have a positive net worth. Also, the exchange said that such a start up company should have QIB or angel investors as its investors for a minimum period of 2 years and an aggregate investment of a minimum of Rs. 1 crore.
There is also a stipulation that the firm proposing such a listing on its BSE platform should not have been included in the IBC nor there should be any winding up action proposed against the company by the NCLT.