23 SMEs in waiting to launch IPO
12/05/2016 14:08
As many as 23 small and medium enterprises have lined up their initial public offers (IPOs) to fund business expansion and meet working capital requirements, reported PTI. These companies, which are planning to list on BSE’s SME platform, are expected to float IPOs in the coming months. The exchange has already given go-ahead to 10 SMEs, while another 13 have filed their draft offer documents with BSE and are awaiting its approval, the bourse said in a statement. Listing will help these companies to enter capital markets and finally to graduate on to the mainboard. BSE MD and CEO Ashishkumar Chauhan, last week, said that exchange expects 30 IPOs on its SME platform in the next three months. SMEs which have lined up their public offers include Trine Entertainment, Monarch Apparels (India) Ltd, Shareway Securities, Narayani Steels, Octaware Technologies, Worth Infra Industries, AGI Hospitalities, Darshan Orna, Yash Chemex and Advance Syntex. As per the norm, companies looking to list on the BSE SME platform required to have post-issue paid up capital of a minimum Rs 3 crore. Besides, they need to have a networth of at least Rs 3 crore (as per the latest audited financial results) to qualify for listing on the segment.
12/05/2016 14:08
