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New Delhi: The Securities and Exchange Board of India is likely to consider relaxing listing standards for small and medium enterprises (SMEs) in a meeting slated for November 9. The Board’s wholetime member MS Sahoo said this on Wednesday.
“In the November 9 meet, Sebi would simultaneously finalise guidelines to limit subscription of investors who understand SMEs and can invest in such enterprises,” he said at an Assocham seminar.
The market regulator is considering easing the entry criteria of Rs 3-crore tangible assets for each of the preceding three years for listing SMEs. A small firm with a track record of distributable profit for at least three out of the immediately preceding five years is likely to be eligible for listing, Sahoo said.
For disclosure standards, this would be done electronically to reduce cost of disclosure and minimise frequency of disclosure of financial statement to half yearly from quarterly at present, he added. “We also propose to reduce quantity of disclosure,” Sahoo said. He, however, said corporate governance standards would not be diluted, as applicable to all listed companies now.
Since 2007, the government, Sebi and India Inc are working on the listing norms so that an SME Exchange can be set up at the earliest.
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