SME Exchange Listing for Startups? Part 5: BSE Startups platform compliance
As we already know the reason why we have mooted the idea of listing startups in SME platforms is to keep in mind the stringent compliance calendar that the platform presents to the listed entity.
The demands and rigor falls in the purview of the CFO often, a full time employee who carries the responsibility. The presence of an effective CFO leads to many other benefits - collective financial wisdom within the startup's leadership.
We will expand on this later. BSE Startups, has a clearly defined compliance calendar which can be found here.
The summary of the calendar is as follows:
Quarterly Compliance: List of investor complaints, Corporate Governance, Shareholding patterns, financial results for the Quarter, reconciliation of share capital audit.
Half yearly Compliance: Physical and Electronic transfer facility
Annual Compliance: Annual Report, Financial Results
Event based Compliance: Appointment of new Share Transfer Agent, Disclosure of price sensitive information, Notice for and outcome of Board Meetings, Voting Results, Shareholders meetings, EGMs, Dividend policy, Distribution of Dividends, Continual disclosures of insider trading ( all these are similar to NSE)
We have seen the listing criteria and compliance requirements of India's two SME listing platforms for startups - NSE Emerge and BSE Startups.
In the next article, we will what should a fund do to list one of its portfolios. And there is a surprise awaiting...
~Krystal Ventures Studio