Key Comparatives

Key Comparative – Main Board Vs SME Exchange

As Per SEBI (ICDR) Regulation, 2009

S.No.
Particulars
Main Board
SME Exchange
SEBI (ICDR) Regulation, 2009
1 Estimated Time for clearance from SEBI and stock exchange 12-16 weeks Not more than 2-4 weeks
(Approval from Stock exchange only)
2 Minimum no. of allottees 1000 50
3 Minimum application value Rs. 10,000 to 15,000 Not less than Rs. 1,00,000
4  Trading lot 1 equity share Fixed lot (Value of at least Rs. 1,00,000)
5  Market Making Not required Compulsory
6  Standard lot size for IPO Not Applicable Applicable in multiple of Rs. 1,00,000

* Company has an option to migrate at the main board after it completes two years of listing on SME platform. The same can be done by passing a Special Resolution and completing other listing requirements/ formalities.

As Per Listing Regulations

S.No.

Particulars

Main Board

SME  Exchange

Listing Regulations

1 Filing of the shareholding pattern Quarterly Half yearly
2 Submission of financial results to stock exchange Quarterly Half yearly
3 Submitting ‘year-to-date’ financial results Yes Exempt
4 Publishing advertisement w.r.t. the board meeting where financial results shall be discussed Yes Exempt
5 Inclusion of business responsibility report in the annual report delivering the initiatives taken by the company form an environmental, social and governance perspective, in the format as specified. Compulsory for top 500 companies (based on market capitalization) Voluntary