Updated in October 2026 for SEBI’s latest proposals on SME IPOs.
Purpose: Evaluate your business readiness to initiate the IPO process. This scorecard will help you identify strengths, gaps, and areas needing preparation before approaching consultants, stock exchanges and Investors.
If the scorecard shows gaps, Pre-IPO Advisory covers governance, capital-structure and financial-reporting readiness ahead of filing. If you are ready to proceed, see SME IPO Advisory.
Your responses have been recorded.
These are the main requirements for listing on the SME platforms.
| Requirement | What it means (as of September 2026) |
|---|---|
| Track record | At least three years of operations. |
| Profitability | Average operating profit (EBITDA) of at least ₹3 crore over the last three financial years — a minimum proposed by SEBI in a consultation paper (the current requirement is ₹1 crore in two of the three years). Companies below it would be ineligible. |
| Size | Post-issue paid-up capital of up to ₹25 crore. Most SME issues raise ₹25–100 crore; larger issues are possible till ~₹200 crore on SME platform. |
| Exchange criteria | NSE Emerge and BSE SME apply additional tests; NSE Emerge includes a free-cash-flow-to-equity test. |
| Offer for sale | Capped at 20% of the issue; each selling shareholder may sell no more than 50% of their pre-issue holding. |
| Use of proceeds | General corporate purposes capped at 15% of the fresh issue or ₹10 crore, whichever is lower. Proceeds cannot repay promoter or related-party loans. |
| Monitoring | A monitoring agency is required where the fresh issue exceeds ₹50 crore. |
| Promoter lock-in | Minimum promoter contribution of 20% locked in for three years; the excess released half after one year and the balance after two. |
A short questionnaire that checks a company against the main requirements for listing on NSE Emerge or BSE SME, so promoters can see where they stand.
Promoters and CFOs considering a listing on NSE Emerge or BSE SME, or deciding between the SME platform and the main board.
A few minutes. There are about 30 questions across four sections: basic information, financial health, legal, compliance and governance, and funding requirement.
A coloured indicator on screen and, by email, an SME IPO Readiness Self-Assessment Report (PDF) prepared strictly from your answers. Neither is a statement of eligibility, because eligibility depends on documents and rules that the stock exchange and SEBI review. After you submit, our team will contact you.
No. The scorecard is a first check against the main requirements. The exchange and SEBI review a company’s documents and eligibility when it files, so a good result does not guarantee approval.
Your answers and contact details are sent to the Transique team and used to prepare your self-assessment report, which is emailed to you. Our team will contact you shortly.
Start with Pre-IPO Advisory, which covers governance, capital-structure and financial-reporting readiness ahead of filing. You can also book a 30-minute consultation with a partner.
