Thursday August 21 2025
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: India
On 11th August 2025, the Bombay Stock Exchange (BSE) announced that it continues to strengthen its regulatory framework to enhance market integrity, investor confidence and economic growth. In line with this ethos, BSE has further strengthened the eligibility norms for both SME companies seeking migration to Main Board and for companies listed on other recognized stock exchanges seeking direct listing. The move is aimed at promoting transparency, disclosure and thereby improve the quality of listings.
As part of change, for migration of SME/direct listing on Mainboard, the exchange has enhanced the requirement of operating profitability to Rs 15 crores for last 3 financial years with minimum operating profit of Rs 10 crores in each of these financial years; as against the previous criteria of positive operating profit for at least 2 out of 3 financial years. Similarly, the minimum number public shareholders have been increased from 250 to 1000.
The exchange has further mandated market liquidity criteria wherein entity seeking to be on Mainboard through migration/direct listing should have during past six months (a) witnessed trading of at least 5% of the weighted average number of equity shares listed (b) been trading on at least 80% of days during such 6 months period. Furthermore, companies are also required to have net tangible assets of at least Rs 3 crores in each of the last 3 financial years and should have compliance track record for 3 years.
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