Small industries’ exchange likely to come up this fiscalAugust 18th, 2008 - 8:36 pm ICT by IANS
Kolkata, Aug 18 (IANS) The capital market regulator Securities and Exchange Board of India (SEBI) may clear the proposal to set up a dedicated exchange for the small and medium enterprises (SMEs) by the end of this fiscal, a top SEBI official said here Monday.”We expect the SME exchange to come into existence by the end of the current financial year,” SEBI executive director M.S. Ray said on the sidelines of a seminar on the small and medium enterprises’ financing, organised by the Confederation of Indian Industry.
At present, the regulator is studying whether the maximum capital base of SMEs, to be traded on the exchange, should be kept at Rs.100 million ($2.4 million) or more, he said.
The viability of the exchange and less complicated procedure that would allow the SMEs to list their scrips at a lower cost, are some of the other issues being considered.
“We are studying whether the IPOs (initial public offerings) could be conducted fully in an electronic form,” Ray said.