NSE looking to ease start-up listing norms
NSE is looking to tweak listing norms to make it easier for start-ups to get listed, says MD and CEO Vikram Limaye
Kolkata: The National Stock Exchange (NSE) is weighing on tweaking listing norms to make it easier for start-ups to get listed, managing director and chief executive officer Vikram Limaye said in Kolkata on Thursday.
The Securities and Exchange Board of India (Sebi) recently formed a panel to look into existing framework of institutional trading platform (ITP) to suggest measures to facilitate listing of start-ups.
In 2013, NSE launched a platform called Emerge ITP to allow start-ups to get listed without having to go through a full-fledged initial public offering (IPO) route.
But it has certain restrictions: the platform was available only to firms with less than Rs25 crore in equity capital and those which have raised less than $4 million in external funding. Also, the platform is accessible only to companies which earn up to Rs100 crore in annual revenue.
Only 11 firms have so far listed on Emerge ITP, and Limaye admitted that it hadn’t “really picked up”. He, however, declined to elaborate what norms the bourse was looking to tweak to make the platform more attractive for start-ups.
Editor's Picks »
- SBI orders forensic audit of Jet Airways’ books
- Make your digital commerce AI project a success
- Buy that car before the new year as price hikes are coming
- Will cognitive technologies and artificial intelligence impact human evolution?
- Chinese content app Helo aims 300% growth in user base in 2019, sets tech team in India
- Markets yet to warm up to KEC International’s record order book
- Indraprastha Gas and Mahanagar Gas shares are low on fuel
- Overhang of capacity constraints lifts for ACC, Ambuja Cements
- Stock market traders fall for the ‘buy rural’ narrative, once again
- Continuing volume momentum puts Indian ports in a good position