Listing CriteriaEligibility for
Eligibility for
BSE SME & NSE Emerge
The complete checklist — incorporation, financials, track record, profitability, leverage and SEBI requirements — before you appoint a merchant banker.
Eligibility for SME Listing
Before applying for a listing on the BSE SME or NSE Emerge platform, your company must meet a set of eligibility requirements defined by the exchanges and SEBI.
Incorporation Requirements
- Must be incorporated under the Companies Act, 1956 or 2013
- Converted entities must have prior net worth of ₹1 Crore for preceding 2 full financial years
Financial Requirements
- Post-Issue Paid-Up Capital: Not more than ₹25 Crore
- Net Worth: Minimum ₹1 Crore for last 2 full financial years
- Net Tangible Assets: Minimum ₹3 Crore in latest full financial year
Track Record
- Minimum 3 years of business operations
- Audited financials for at least one full financial year
- Alt path: Project appraised and funded by NABARD, SIDBI, Banks, or Financial Institutions
Profitability Requirements
- EBITDA > ₹1 Cr in at least 2 of the last 3 financial years
- Or at least 1 full profitable year if project is funded by a financial institution
Leverage & Clean Record
- Maximum Debt-to-Equity Ratio: 3:1
- No suspension, delisting, or disciplinary action against promoters
- No payment defaults or disqualifications
Additional Requirements
- Functional company website
- 100% promoter shareholding in demat form
- Agreement with CDSL & NSDL
- No change in promoters within 1 year
- No NCLT/IBC proceedings
Not sure if your business qualifies?
Our team can run a quick eligibility assessment and help you understand exactly where you stand — and what steps are needed.
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