IPO Eligibility
A short, indicative assessment against the published eligibility norms for the Main Board, NSE SME and BSE SME platforms.
This assessment is indicative and subject to professional review by our team.
NSE SME (Emerge) — Eligibility Criteria
The issuer is a company incorporated under the Companies Act, 1956 / 2013 in India.
Indian incorporation is mandatory.
Post-issue paid-up capital will not exceed ₹25 crore.
Ceiling for the SME platform.
The company has a track record of at least 3 years.
Measured from the date of incorporation / commencement of operations.
Operating profit (EBITDA) of ₹1 crore from operations in any 2 of the 3 previous financial years.
Earnings before interest, depreciation and tax.
Net worth is positive.
As per the latest audited financials.
Positive free cash flow to equity (FCFE) for at least 2 of the 3 financial years preceding the application.
FCFE is assessed on the restated financials.
Common Criteria
None of the promoters, directors, founders or investors are debarred from accessing the capital markets.
A company cannot apply for an IPO until any debarment period has expired.
None of the promoters, directors, founders or investors are associated with another company debarred from the capital markets.
Association with a debarred entity disqualifies the issuer.
None of the promoters, directors, founders or investors are wilful defaulters.
Defaulter status is checked at the time of filing.
None of the promoters, directors, founders or investors are declared fugitive economic offenders.
Under the Fugitive Economic Offenders Act, 2018.
Promoters will hold at least 20% of the post-issue equity.
Minimum promoters' contribution, locked in post listing.
Request a detailed IPO assessment.
Our Equity Capital Markets team can review your financials and structure against the full listing requirements.