BSE's SME segment to come up by September

KOLKATA, INDIA: The small and medium enterprise (SME) exchange of the Bombay Stock Exchange (BSE) will come up by September this year, a top executive said.

“We have got the principle approval. By September, we will set up the SME exchange. It will be a segment of the exchange, it won't be a different platform,” Sayee Srinivasan, head of product strategy at the BSE, told reporters Wednesday evening.

He said the companies which will be listed for SME segment at the BSE will not have to go for Securities and Exchange Board of India (SEBI) approval.

Also read: Not a 'Small' Opportunity: Are the Solution Providers Ready?

“Here they (the companies) need the approval from the BSE, they do not have to go to SEBI,” he said.

He also informed media persons that the minimum trade size in the SME exchange will be of Rs.1 lakh.

He said the BSE has been talking to merchant banks for setting up the SME segment. “We are talking to all the major merchant banks. A lot of merchant banks are registered with the SEBI. People are interested.”