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Eligibility for IPO

Share your company’s details and our advisors will assess your SME IPO eligibility, with an honest read on what’s ready and what needs work.

01

The company

Was the company formed by converting a proprietorship, partnership firm or LLP?

If yes, the track record of the predecessor firm counts towards the three-year requirement below.

Has the company changed its name in the last one year?
Has there been any change in promoters in the last one year?

BSE SME requires promoters to be unchanged for one year before the listing application.

02

Financials

Net worth for the two preceding full financial years

Both exchanges require positive net worth of at least ₹1 Cr in each of the last two full years.

₹ Cr
₹ Cr

BSE SME requires ₹3 Cr. NSE EMERGE has no net tangible asset condition.

₹ Cr

Earnings before interest, depreciation and tax, from operations, restated and consolidated.

Did the company post an operating profit in the most recent full financial year?

BSE SME requires operating profit for the one full year immediately preceding the application.

NSE EMERGE requires FCFE in at least 2 of the last 3 years. BSE SME does not test this.

Leverage ratio (total debt ÷ equity) as per the latest audited accounts

BSE SME caps this at 3:1. Enter 3 for 3:1. Finance companies may be granted relaxation.

Is this a finance company?
03

The proposed issue

The SME platform is for companies with post-issue capital between ₹1 Cr and ₹25 Cr. Above ₹25 Cr, you are looking at a Mainboard IPO.

₹ Cr

Proposed issue size and offer for sale

OFS cannot exceed 20% of the total issue size.

₹ Cr
₹ Cr

A selling shareholder cannot offer more than 50% of their holding. Enter the highest percentage across all selling shareholders.

Capped at 15% of the amount raised or ₹10 Cr, whichever is lower.

₹ Cr
What will the rest of the proceeds be used for?

Select all that apply.

04

Compliance and disclosures

Has any listing application of the company been rejected by an exchange in the last 6 complete months?
Has the company or any promoting company been referred to BIFR, or had proceedings admitted under the Insolvency and Bankruptcy Code?
Has any winding-up petition against the company been admitted by the NCLT or a court?
Are there any pending defaults on interest or principal to debenture, bond or fixed deposit holders?
In the past 3 years, has there been any default to banks or financial institutions by the company, promoters or group companies?

Past, settled defaults do not bar a listing, but they must be disclosed.

In the past one year, has any exchange or regulator taken material regulatory action against the promoters or group companies?
Is any director charge-sheeted with a serious offence such as forgery or an economic offence, or under investigation?
Are there material litigations involving the company, its promoters or group companies?
Can the company adopt Mainboard-level related party transaction norms, with materiality set at 10% of consolidated turnover or ₹50 Cr, whichever is lower?

These now apply to SME-listed entities as well.

Are audited financial statements for the last 3 years, restated and consolidated, available?
05

Where should we send the assessment?

Your responses stay confidential and are used only to assess your listing readiness.