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❑ Listing- Broking & Micro Finance Company

SME LISTING- Enabling Capital Formation & Growth I June 2021

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Expand the Investor 
Base
01
02 Unlocking Business

Enhance Visibility & 
Prestige
04
05 Create wealth for

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Relaxed Eligibility 
Criteria
01
02 Quality Investor

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Stats in relation to progress of SME platform,

Index, Nos. of Listings, Fund Raising and

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*As on June 04, 2021
*As on June 04, 2021

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1000
500
452.47
137.35
2012 2013
2014
2015
2016 2017
YEARS
*Till June 04, 2021
The index has a base date of August 16, 2012 and

2012
2013
2014
2015
2016
2017
2018
2019
2020 2021*

*Till June 04, 2021
The index has a base date of August 16, 2012 and a base value of 100

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*Till June 04, 2021
The index has a base date of December 01, 2016 and a base value of 1000

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Stats- Industry Wise Contribution
40.82
29.13
11.74
3.99 2.61
2.37
2.07
1.81
1.31
1.31
0.44
Weight (%)
Consumer Goods
Others
Housing Related
Transport Services
Chemical & Petrochemical
IT
Power
Miscellaneous
Capital Goods
FMCG
Diversified
SME LISTING- Enabling Capital Formation & Growth I June 2021
26.99
16.26
15.35
14.6
7.72
6.19
4.1
2.38
1.78
1.55
1.25
0.78
0.6
0.46
Weight (%)
Services
Consumer Goods
IT
Industrial Manufacturing
Pharma
Textiles
Chemicals
Automobile
Construction
Metals

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Stats- Listing & Fund Raising
44
42
38
67
363
1442
1049
175 79 28.1
2
3
2
8
31
87
62
13
8
2
0
20
40
60
80
100
0
200
400
600
800
1000
1200
1400
1600
NOS. OF LISTINGS
FUND RAISED RS. IN CR.
FINANCIAL YEARS
Listing & Fund Raising
Funds Raising (Rs. in Cr.)
Nos. of Listings
*Till June 04, 2021
**Including 1 FPO of Rs. 12.60 Cr.
***Including 1 FPO of Rs. 11.75 Cr.
*Till June 04, 2021
9
146
316
233 237
436
713
887
336
152
28
1
21
36
35
38
48
60
56
28
14
3
0
10
20
30
40
50
60
70
0
200
400
600
800
1000
NOS. OF LISTINGS
FUND RAISED RS. IN CR.
FINANCIAL YEARS
Listing & Fund Raising
Funds Raising (Rs. in Cr.)
Nos. of Listings
SME LISTING- Enabling Capital Formation & Growth I June 2021

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Nos. of Migrations
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22*
FINANCIAL YEARS

2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22*

*zz-tzoz
tz-ozoz
oz-6toz
61-8toz
LT-9tOZ
91-stoz
st-

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The guidelines & eligibility norms have been 
prescribed by SEBI under Chapter IX of SEBI

(ICDR), 2018 and in addition to SEBI guidelines 
BSE & NSE has their own eligibility criteria for

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Post issue paid up capital
Not more than Rs. 25 crore

Filling of draft offer documents to SEBI
Not required

Observation on Draft Offer Documents
By the Stock Exchange

Merchant Banker obligation for underwriting
At least 15%

Minimum application value
At least of Rs. 100,000

Market Making
Compulsory for 3 years or Till Migration to Main Board; Earlier

Migration to SME platform
Special Resolution by postal ballot

Migration to main board (Optional)
If Rs. 10 Crore < Post Issue Share Capital ≤ Rs. 25 Crore

Migration to main board (Compulsory)
Post Issue Share Capital > Rs. 25 Crore

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Post-issue-paid-up Capital (Face Value)
Not more than Rs. 25 Cr.
Not less than Rs. 10 Cr.

Minimum number of allottees in the IPO
50
1000

Observations on DRHP
By Stock Exchange
BY SEBI

IPO Underwriting
100% underwritten (15% on the 
books of the merchant banker)

Mandatory (Not required where 75% 
of issue is offered for compulsory 
subscription of QIBs)

Market Capitalisation/ Issue Size
No restriction
No restriction

IPO Application size
Not less than Rs. 100,000
Rs. 10,000 - Rs. 15,000

POST- ISSUE
Reporting requirements 
Half Yearly (Abridged)
Quarterly (Comprehensive)

Corporate Governance Chapter
Not Applicable
Applicable

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Post Issue Paid Up Capital
Post issue paid- up capital 
(face value) up to Rs. 25 Cr.

Post issue paid- up capital 
(face value) up to Rs. 25 Cr.

Net Worth
Net Worth should be positive
Net Worth should be positive

Operating Profit
Positive EBDT in any of the 
year out of last 3 years

Positive EBITDA for at least 
any 2 out of 3 financial years

Track Record
Track record for at least 3 
years*

Net Tangible Assets
Net Tangible Assets should be 
at least Rs. 1.50 Cr.

*If not fulfilled then should have been funded by Banks or Financial Institutions or Central Govt. or State Govt. or Its Group Company should be
listed for at least two years either on the main board or SME board of the Exchange.

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Finance Company which are Non- Depoist taking

Non- Banking Financial Company (NBFC) are

eligible for listing on BSE SME platform subject

to meeting the criteria specicied by BSE.

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▪ Net worth of min. Rs. 15 Cr. with PBT of Rs. 5 Cr. in any 2 years out of 3

▪ Net Worth of min. Rs. 25 Cr. with profit in any 3 years out of 5 financial

years. (Extraordinary income will not be considered for the purpose of
profits and net worth shall include equity, pref. shares. Reserves and
surplus)

▪ Net Tangible Assets of at least Rs. 3 Cr. As per the latest audited

▪ Post issue paid up capital shall be at least Rs. 3 Cr.

Micro Finance Company in addition to the existing criteria for all SME
Companies, should have a book value of at least Rs. 100 Cr., client base
of 10,000 & above and it should not have accepted/ held public deposit.

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To facilitate capital raising for growth and

expansions of technology startups, BSE and 
NSE has set up the platform for Technolgoy

Statrups as per the norms placed by SEBI.

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The “Start-up companies” seeking Listing on BSE StartUp Platform
should be in the sector of IT, ITES, Bio-technology and Life Science, 3D
Printing, Space technology, E-Commerce, Hi- Tech Defense, Drones,
Nano Technologies, Artificial Intelligence, Big data, Enhance/Virtual
Reality, E-gaming, Exoskeleton, Robotics, Holographic Technology,
Genetic
Engineering,
Variable
Computers
Inside
body
computer

technology and other Hi-tech based companies.

Technology
startups
working
towards
innovation,
development,

deployment or commercialization of new products, processes or
services driven by technology or intellectual property such as but not
limited to Information Technology, Data Analytics, Bio- Technology,
Nano-
Technology,
E-
Commerce,
Genetic
Engineering,
Space

Technology, 3D Printing, Artificial Intelligence, Robotics etc.

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Paid Up Capital
Should be registered as startup with DPIIT. If not then the
company’s paid-up capital should be minimum Rs. 1 Cr.

Post Issue Paid- Up Capital
The post issue paid up capital of the company (face value) shall not
be more than Rs. 25 Cr.

Shareholding Conditions
There should be preferably investment by QIB/ Angel/Accredited
Investors for a min. period of 2 years at the time of filing of DP.

Should have a track record of at least 2 years at the time of filing 
the prospectus with BSE.

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Annual Revenue
Should have annual revenue ≥ Rs. 10 Cr. and should have shown an
annual growth* of ≥ 20% in the past one year.

At least 10% of its pre-issue capital as on the date of filing of DP held by:
Qualified Institutional Buyer(s) (QIBs); or

A member of the Angel Investor Network or Private Equity Firms; and

Such Angel Investor Network or Private Equity should have had an
investment in the start-up ecosystem in 25 or more start-ups and their
aggregate investment is more than Rs. 50 Cr.

Should have a track record of at least 2 years at the time of filing
the prospectus with NSE.
Track Record

*Annual growth may in the form of number of users/revenue growth/customer base
SME LISTING- Enabling Capital Formation & Growth I June 2021

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technical process. One must aware about 
the overview of the process and activities

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MARKET CAP. RS. IN CR.
SUUMAYA LIFESTYLE LTD.
VALIANT ORGANICS LTD.
ANMOL INDIA LTD.
SHARE INDIA SECURITIES
LTD.
ADITYA VISION LTD.
MARINE ELECTRICALS
(INDIA) LTD.
MADHAV COPPER LTD.
RUDRABHISHEK
ENTERPRISES LTD.
THEJO ENIGINEERING LTD.
YASHO INDUSTRIES LTD.
O
205.0%
122.7%
109.2
103.4
93.3%
83.5
82.7%
68.6%
O
O
3
w
O
O
w
O
O
O
O
O
O

0/06*
0/0589
VZ8
S'E8
0/08
6
WEOT
z•60
O/'OCZZI
O,6ffSOZ

1,000.00
 1,500.00
 2,000.00
 2,500.00
 3,000.00
 3,500.00
 4,000.00
 4,500.00

Mkt. Cap. at IPO (Rs. in Cr.)
43.2
80.1
34.3
100.1
21.2
161.9
16.9
71.1
7.2
109.0

Mkt. Cap. at Current* (Rs. in Cr.)
1,229.4
4,234.5
213.4
1,497.9
509.7
928.6
230.0
407.2
689.2
513.5

CAGR (%)
205.0%
135.1%
122.7%
109.2%
103.4%
93.3%
83.5%
82.7%
68.6%
62.9%

*Selected from the list of Companies who have Market Capitalization of at least Rs. 200 Cr. as on June 04, 2021.

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Our
)ffering
Investment Banking
IPO, M&A, Fund Raising,
Debt Syndication
Transaction Advisory.
Deal Structuring,
Demerger, Open Offer,
Biz Restructuring
Valuation & Biz
Modeling
Biz Modeling, Valuation of
Business, Instruments,
IPR
Regulatory Advisory
SEBI Regulations,
Company Law, FEMA, IBC

IPO, M&A, Fund Raising, 
Debt Syndication

Fintellectual Corporate Advisors Private Limited is a transaction
advisory firm founded by experienced and professional
entrepreneurial management, havingrich andvast experience in
the fields of Investment Banking, Valuations, Transaction
Advisory,CorporateFinanceandCorporateLawAdvisory.

At Fintellectual, we help businesses in designing their growth
strategies by sailing through in the right direction, providing the
bestguidancethroughapplicationoftheexperience andintellect
gainedbytheteaminthepastyears.

Transaction Advisory
Deal Structuring, 
Demerger, Open Offer, 
Biz Restructuring

Valuation & Biz 
Modeling
Biz Modeling, Valuation of 
Business, Instruments, 
IPR

Regulatory Advisory
SEBI Regulations, 
Company Law, FEMA, IBC

Disclaimer: This report is for information purposes only and does not construe to be any investment, legal or taxation advice. It is not intended as an offer or solicitation for the
purchase or sale of any financial instrument. Any action taken by recipient of this publication on the basis of the information contained herein is your responsibility alone and
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