SEBI board meeting decision held on 21st August, 2019
Norms for permitting companies listed on the Innovators Growth Platform with an option to trade under regular category
The Board approved the norms for migration of companies listed on the Innovators Growth Platform (IGP) to regular trade category of the main board. The key proposals approved by the Board are as follows:
1. The Company should have been listed on the Innovators Growth Platform for a minimum period of one year.
2. At the time of making the application for trading under regular category of main board, the number of shareholders should be minimum 200.
3. The company should have profitability/ net worth track record of 3 years or have 75% of its capital as on the date of application for migration held by Qualified Institutional Buyers in accordance with Regulation 6(1) and 6(2) of the ICDR Regulations for main board listings.
4. Minimum promoters contribution shall be 20% which shall be locked in for 3 years. Period of earlier lock-in of 6 months served at the time of listing on IGP shall be deducted from the stipulated lock-in requirement of 3 years.
Norms for permitting companies listed on the Innovators Growth Platform with an option to trade under regular category
The Board approved the norms for migration of companies listed on the Innovators Growth Platform (IGP) to regular trade category of the main board. The key proposals approved by the Board are as follows:
1. The Company should have been listed on the Innovators Growth Platform for a minimum period of one year.
2. At the time of making the application for trading under regular category of main board, the number of shareholders should be minimum 200.
3. The company should have profitability/ net worth track record of 3 years or have 75% of its capital as on the date of application for migration held by Qualified Institutional Buyers in accordance with Regulation 6(1) and 6(2) of the ICDR Regulations for main board listings.
4. Minimum promoters contribution shall be 20% which shall be locked in for 3 years. Period of earlier lock-in of 6 months served at the time of listing on IGP shall be deducted from the stipulated lock-in requirement of 3 years.
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