India’s top stock exchange BSE has postponed the launch of its new platform for listing startups. This platform was previously scheduled to be launched today.
This new platform was designed to list the companies from sectors like e-commerce, IT, ITES, Biotechnology, 3D printing, Life Sciences, Space Technology, etc. It was also going to be used by other technology companies in the field of Robotics, Virtual Reality, Augmented Reality, Artificial Intelligence, Genetic Engineering, etc.
As per the circular from the exchange, “BSE has decided to postpone the split of the BSE startup sub-segment from BSE SME segment. Startups will continue to list on BSE SME segment as usual. These startups will have the option to migrate to BSE startup segment once BSE startup segment is launched,”.
To list the companies in the BSE SME segment, certain criteria were decided as per an earlier circular from the exchange. According to the criteria, the company is supposed to have a pre-issue paid-up equity share of a minimum of ₹1 crore. The company should have been in existence for at least three years before a draft prospectus can be filed with the BSE. Also, the company should have positive net-worth.
So far there has been no further updates regarding the reason for the postponement or when the new platform will be launched.