Overview

• SMEs must meet a minimum paid-up capital of ₹10 crore and an average market capitalisation exceeding ₹100 crore over three months.
• Operational revenue must surpass ₹100 crore in the last financial year, with positive EBITDA in at least two of the previous three years.
• Companies must be listed on the NSE SME platform for a minimum of three years before applying for main board migration.
• Promoters must hold at least 20% stake at application and retain 50% of their shareholding until listing; public shareholder minimum reduced to 500.
• Additional compliance includes a net worth of ₹75 crore, no ongoing insolvency proceedings, no regulatory debarments, and clean director records.