SME to mainboard migration is a key step for most of the small and medium enterprises listed on stock exchanges in India. The migration of SMEs to the mainboard results in the listed securities being transferred from the SME platform to the mainboard exchanges. This migration from SME to mainboard has several benefits for company owners as well as investors. Nevertheless, companies need to fulfill SME migration criteria before shifting to mainboard exchanges of BSE and NSE. In this article, we take a closer look at the benefits and eligibility criteria of Upcoming Migration to Main Board.
Table of Contents
Benefits of SME to Mainboard Migration
There are several benefits of SME IPO migration from the SME exchange to the mainboard exchanges (BSE and NSE). Some of these advantages of migration are listed below:
- Removal of Lot Size and Access to More Capital – Stocks listed on SME exchanges in India are available in lot sizes where minimum investment is INR 1,00,000. As intended, it effectively makes the SME stock unavailable to a large section of investors. However, migration from SME to mainboard removes this restriction and stocks can be traded in minimum 1 share or multiples thereafter. Naturally, migration opens access to a bigger set of investors and capital.
- Better Valuations – As mentioned above, migration to mainboard exchange attracts more investors. The combination of lower ticket size and bigger set of investors aides in better value discovery.
- Possibility of Dual Listing – SMEs can list on the BSE and NSE mainboards after migration. This expands their investor base.
- No Market Maker Requirement – Companies listed on SME exchanges are required to appoint a market maker but this requirement goes away when the company shifts to mainboard. This reduces compliance costs.
- Change in Stock Group and Margin – The SME’s stock group changes to a lower margin group after migration. This makes it more attractive for investors.
- Enhanced Credibility and Visibility – Listing on the mainboard increases the credibility and reputation of the company and visibility among the investors and other stakeholders. This is a mark of the company’s skill in pushing transparency and governance.
List of SME Companies Migrated to Mainboard
As of 12 June 2025, a total of 1,039 companies are listed together on the BSE SME and NSE SME exchange in India. Out of these, 338 companies have migrated to the main board exchange. The number of companies migrated to the BSE and NSE are as follows:
| BSE SME | NSE SME | Total | |
| SME IPOs Migrated to Mainboard | 195 | 143 | 338 |
Recent and Upcoming Migration to Main Board
Migration from SME platforms to the main boards of exchanges like the BSE and NSE is a noteworthy step for growing companies, enhancing their visibility and access to capital. This move can attract more investor interest and increase liquidity, with SME stocks often showing improved performance post-migration. Aryaman Capital Markets, for example, has recently announced plans to migrate, tentatively scheduled for 12 June 2025, reflecting confidence in its growth trajectory.
| SME Exchange | Company Name | BSE Symbol | NSE Symbol | Migration Date |
|---|---|---|---|---|
| BSE | Markolines Pavement Technologies | 543364 | June 12, 2025 | |
| BSE | Prime Fresh | 540404 | June 6, 2025 | |
| BSE | Aryaman Capital Markets | 538716 | May 9, 2025 | |
| BSE | Escorp Asset Management | 540455 | May 9, 2025 | |
| NSE | Network People Services Technologies | NPST | Apr 30, 2025 | |
| NSE | Spectrum Electrical Industries Limited | SPECTRUM | Mar 28, 2025 | |
| NSE | Innovana Thinklabs Limited | INNOVANA | Dec 17, 2024 | |
| BSE | Northern Spirits Limited | 242628 | Dec 5, 2024 | |
| BSE | Knowledge Marine & Engineering Works Limited | 543273 | KMEW | Nov 14, 2024 |
| NSE | A B Infrabuild Limited | ABINFRA | Nov 08, 2024 | |
| BSE | Affordable Robotic & Automation Limited | 541402 | AFFORDABLE | Oct 23, 2024 |
| BSE | Alacrity Securities Limited | 535916 | Oct 03, 2024 | |
| BSE | Taylormade Renewables Limited | 541228 | Oct 03, 2024 | |
| BSE | Indo US Bio-Tech Limited | 541304 | INDOUS | Sep 27, 2024 |
| NSE | Reliable Data Services Limited | RELIABLE | Jul 10, 2024 | |
| BSE | Money Masters Leasing & Finance Limited | 535910 | May 06, 2024 | |
| BSE | Rhetan TMT Limited | 543590 | May 06, 2024 | |
| NSE | Tara Chand Logistic Solutions Limited | TARACHAND | Apr 16, 2024 | |
| BSE | V R Films & Studios Limited | 542654 | Jan 25, 2024 | |
| BSE | Samor Reality Limited | 543376 | Jan 05, 2024 | |
| BSE | VMV Holidays Limited | 539222 | Nov 21, 2023 | |
| NSE | Laxmi Goldorna House Limited | LGHL | Nov 10, 2023 | |
| BSE | SecMark Consultancy Limited | 543234 | SECMARK | Oct 16, 2023 |
| NSE | Thejo Engineering Limited | THEJO | Oct 10, 2023 | |
| BSE | Relicab Cable Manufacturing Limited | 539760 | Aug 24, 2023 | |
| BSE | Advait Infratech Limited | 543230 | Jul 17, 2023 | |
| BSE | Aartech Solonics Limited | 542580 | AARTECH | Jul 10, 2023 |
| NSE | Uravi T and Wedge Lamps Limited | URAVI | Jul 05, 2023 | |
| BSE | Gensol Engineering Limited | 542851 | GENSOL | Jul 03, 2023 |
| BSE | Ashoka Metcast Limited | 540923 | ASHOKAMET | Jun 27, 2023 |
| NSE | M K Proteins Limited | MKPL | Jun 13, 2023 | |
| BSE | Sprayking Agro Equipment Limited | 540079 | Jun 12, 2023 | |
| BSE | Captain Pipes Limited | 538817 | Jun 12, 2023 | |
| NSE | Sigma Solve Limited | SIGMA | Jun 09, 2023 | |
| NSE | Pavna Industries Limited | PAVNAIND | Jun 01, 2023 | |
| NSE | Latteys Industries Limited | LATTEYS | May 23, 2023 | |
| BSE | Deccan Health Care Limited | 542248 | May 18, 2023 | |
| NSE | Power & Instrumentation (Gujarat) Limited | PIGL | May 17, 2023 | |
| NSE | AVG Logistics Limited | AVG | May 12, 2023 | |
| NSE | Atal Realtech Limited | ATALREAL | May 12, 2023 | |
| BSE | Atam Valves Limited | 543236 | ATAM | May 10, 2023 |
| BSE | Anisha Impex Limited | 537785 | RACE | May 09, 2023 |
| BSE | U. H. Zaveri Limited | 541338 | May 04, 2023 | |
| NSE | Shree Vasu Logistics Limited | SVLL | Apr 21, 2023 | |
| BSE | Anuroop Packaging Limited | 542865 | Apr 11, 2023 | |
| BSE | Naysaa Securities Limited | 538668 | Apr 11, 2023 | |
| BSE | Lorenzini Apparels Limited | 540952 | LAL | Apr 10, 2023 |
| BSE | AKI India Limited | 542020 | AKI | Apr 06, 2023 |
| NSE | Lexus Granito (India) Limited | LEXUS | Mar 13, 2023 | |
| NSE | ShreeOswal Seeds & Chemicals Limited | OSWALSEEDS | Feb 28, 2023 | |
| BSE | Nintec Systems Limited | 539843 | NINSYS | Feb 21, 2023 |
| NSE | Bodhi Tree Multimedia Limited | BTML | Feb 15, 2023 | |
| BSE | Suratwwala Business Group Limited | 543218 | Feb 10, 2023 | |
| BSE | Manomay Tex India Limited | 540396 | MANOMAY | Jan 18, 2023 |
| BSE | MRC Exim Limited | 540809 | Jan 18, 2023 | |
| NSE | Nupur Recyclers Limited | NRL | Jan 12, 2023 | |
| BSE | Gian Life Care Limited | 542918 | Jan 10, 2023 | |
| BSE | Sky Gold Limited | 541967 | SKYGOLD | Jan 06, 2023 |
| NSE | Sarveshwar Foods Limited | SARVESHWAR | Dec 08, 2022 | |
| BSE | RO Jewels Limited | 543171 | Dec 08, 2022 | |
| BSE | DJ Mediaprint & Logistics Limited | 543193 | DJML | Dec 05, 2022 |
| NSE | Osia Hyper Retail Limited | OSIAHYPER | Dec 01, 2022 | |
| BSE | GCM Securities Limited | 535431 | Nov 28, 2022 | |
| NSE | Vinny Overseas Limited | VINNY | Nov 28, 2022 | |
| NSE | AAA Technologies Limited | AAATECH | Nov 28, 2022 | |
| NSE | B&B Triplewall Containers Limited | BBTCL | Nov 23, 2022 | |
| BSE | Sheetal Cool Products Limited | 540757 | SCPL | Nov 22, 2022 |
| BSE | IFL Enterprises Limited | 540377 | Nov 22, 2022 | |
| NSE | HindPrakash Industries Limited | HPIL | Nov 07, 2022 | |
| BSE | Advitiya Trade India Limited | 541152 | GOYALALUM | Nov 04, 2022 |
| NSE | Ace Integrated Solutions Limited | ACEINTEG | Nov 04, 2022 | |
| NSE | Narmada Agrobase Limited | NARMADA | Oct 27, 2022 | |
| NSE | Bohra Industries Limited | BOHRA | Oct 27, 2022 | |
| NSE | DC Infotech and Communication Limited | DCI | Oct 19, 2022 | |
| NSE | SecUR Credentials Limited | SECURCRED | Oct 17, 2022 | |
| BSE | Bonlon Industries Limited | 543211 | Sep 23, 2022 | |
| NSE | Ksolves India Limited | KSOLVES | Sep 23, 2022 | |
| NSE | Fourth Dimension Solutions Limited | FOURTHDIM | Sep 22, 2022 | |
| BSE | Universal Autofoundry Limited | 539314 | Sep 09, 2022 | |
| BSE | Vidli Restaurants Limited | 539659 | Aug 23, 2022 | |
| NSE | Kshitij Polyline Limited | KSHITIJPOL | Jul 27, 2022 | |
| BSE | Kenvi Jewels Limited | 540953 | Jul 25, 2022 | |
| BSE | Active Clothing Co Limited | 541144 | Jul 15, 2022 | |
| BSE | A-1 Acid Limited | 542012 | Jul 07, 2022 | |
| BSE | EKI Energy Services Limited | 543284 | Jul 04, 2022 | |
| BSE | Dolfin Rubbers Limited | 542013 | Jul 01, 2022 | |
| BSE | Axita Cotton Limited | 542285 | Jun 21, 2022 | |
| NSE | Surevin BPO Services Limited | WEWIN | Jun 15, 2022 | |
| BSE | Kwality Pharmaceuticals Limited | 539997 | Jun 13, 2022 | |
| BSE | Medico Remedies Limited | 540937 | MEDICO | May 26, 2022 |
| BSE | Rajnish Wellness Limited | 541601 | May 25, 2022 | |
| BSE | Akshar Spintex Limited | 541303 | AKSHAR | May 23, 2022 |
| BSE | Veeram Infra Engineering Limited Limited (VIEL) | 542046 | May 20, 2022 | |
| NSE | Silver Touch Technologies Limited | SILVERTUC | May 12, 2022 | |
| BSE | Chemcrux Enterprises Limited | 540395 | May 05, 2022 | |
| BSE | Parshva Enterprises Limited | 542694 | May 04, 2022 | |
| NSE | Kritika Wires Limited | KRITIKA | May 04, 2022 | |
| BSE | Yogya Enterprises Limited | 539097 | Apr 26, 2022 | |
| NSE | Vaxtex Cotfab Limited | VCL | Apr 19, 2022 | |
| BSE | Ritco Logistics Limited | 542383 | RITCO | Apr 12, 2022 |
| BSE | Garv Industries Limited | 541276 | HARDWYN | Apr 12, 2022 |
| NSE | E2E Networks Limited | E2E | Apr 12, 2022 | |
| NSE | Sonam Clock Limited | SONAMLimited | Apr 07, 2022 | |
| NSE | Avon Moldplast Limited | AVROIND | Apr 07, 2022 | |
| BSE | Orissa Bengal Carrier Limited | 541206 | OBCL | Apr 07, 2022 |
| BSE | Galactico Corporate Services Limited | 542802 | Apr 07, 2022 | |
| NSE | Debock Sales and Marketing Limited | DIL | Mar 31, 2022 | |
| NSE | MITCON Consultancy & Engineering Services Limited | MITCON | Mar 17, 2022 | |
| NSE | Priti International Limited | PRITI | Mar 02, 2022 | |
| NSE | SoftTech Engineers Limited | SOFTTECH | Feb 25, 2022 | |
| BSE | Megastar Foods Limited | 541352 | MEGASTAR | Feb 16, 2022 |
| NSE | Dev Information Technology Limited | DEVIT | Feb 15, 2022 | |
| NSE | Crown Lifters Limited | CROWN | Feb 08, 2022 | |
| BSE | Shreeji Translogistics Limited | 540738 | Jan 17, 2022 | |
| NSE | Wonder Fibromats Limited | WEL | Jan 17, 2022 | |
| BSE | Radhika Jeweltech Limited | 540125 | RADHIKAJWE | Jan 13, 2022 |
| NSE | Uniinfo Telecom Services Limited | UNIINFO | Jan 12, 2022 | |
| BSE | G. K. P. Printing & Packaging Limited | 542666 | Jan 11, 2022 | |
| NSE | Brand Concepts Limited | BCONCEPTS | Jan 11, 2022 | |
| NSE | United Polyfab Gujarat Limited | UNITEDPOLY | Dec 31, 2021 | |
| NSE | HEC Infra Projects Limited | HECPROJECT | Dec 30, 2021 | |
| NSE | Jet Freight Logistics Limited | JETFREIGHT | Dec 21, 2021 | |
| BSE | Bansal Roofing Products Limited | 538546 | Dec 14, 2021 | |
| NSE | Zodiac Energy Limited | ZODIAC | Dec 14, 2021 | |
| NSE | Rajshree Polypack Limited | RPPL | Nov 26, 2021 | |
| BSE | Dhruv Consultancy Services Limited | 541302 | DHRUV | Nov 25, 2021 |
| BSE | Sarthak Metals Limited | 540393 | SMLT | Nov 25, 2021 |
| NSE | Focus Lighting And Fixtures Limited | FOCUS | Nov 24, 2021 | |
| BSE | SBC Exports Limited | 542725 | Nov 23, 2021 | |
| NSE | Marshall Machines Limited | MARSHALL | Nov 22, 2021 | |
| NSE | Laxmi Cotspin Limited | LAXMICOT | Nov 12, 2021 | |
| BSE | IRIS Business Services Limited | 540735 | IRIS | Nov 08, 2021 |
| BSE | ANG Lifesciences India Limited | 540694 | Nov 08, 2021 | |
| BSE | Pure Giftcarat Limited | 540492 | Nov 02, 2021 | |
| BSE | SPS Finquest Limited | 538402 | Nov 02, 2021 | |
| BSE | Kranti Industries Limited | 542459 | Nov 02, 2021 | |
| NSE | Sikko Industries Limited | SIKKO | Oct 22, 2021 | |
| NSE | Art Nirman Limited | ARTNIRMAN | Oct 18, 2021 | |
| NSE | Pansari Developers Limited | PANSARI | Oct 18, 2021 | |
| BSE | Vaksons Automobiles Limited | 539402 | Oct 18, 2021 | |
| BSE | Anand Rayons Limited | 542721 | Oct 14, 2021 | |
| NSE | Airo Lam Limited | AIROLAM | Oct 13, 2021 | |
| NSE | Euro India Fresh Foods Limited | EIFFL | Oct 12, 2021 | |
| BSE | Meera Industries Limited | 540519 | Oct 01, 2021 | |
| NSE | Lagnam Spintex Limited | LAGNAM | Sep 30, 2021 | |
| NSE | Shanti Overseas (India) Limited | SHANTI | Sep 16, 2021 | |
| NSE | Par Drugs and Chemicals Limited | PAR | Sep 16, 2021 | |
| BSE | Earum Pharmaceuticals Limited | 542724 | Sep 16, 2021 | |
| NSE | Servotech Power Systems Limited | SERVOTECH | Sep 02, 2021 | |
| NSE | Nandani Creation Limited | JAIPURKURT | Sep 02, 2021 | |
| BSE | Nakoda Group of Industries Limited | 541418 | NGIL | Aug 20, 2021 |
| BSE | Veeram Ornaments Limited | 540252 | Aug 06, 2021 | |
| BSE | Synergy Green Industries Limited | 541929 | SGIL | Jul 28, 2021 |
| BSE | K.P.I. Global Infrastructure Limited | 542323 | KPIGREEN | Jul 27, 2021 |
| BSE | Manorama Industries Limited | 541974 | MANORAMA | Jul 20, 2021 |
| BSE | Ashapuri Gold Ornament Limited | 542579 | Jul 16, 2021 | |
| BSE | Raw Edge Industrial Solutions Limited | 541634 | Jul 12, 2021 | |
| NSE | Ganga Forging Limited | GANGAFORGE | Jul 06, 2021 | |
| NSE | Hindcon Chemicals Limited | HINDCON | Jul 05, 2021 | |
| BSE | White Organic Retail Limited | 542667 | Jun 30, 2021 | |
| BSE | Ratnabhumi Developers Limited | 540796 | Jun 30, 2021 | |
| BSE | S. M. Gold Limited | 542034 | Jun 17, 2021 | |
| BSE | Anmol India Limited | 542437 | ANMOL | Jun 04, 2021 |
| BSE | Vishal Bearings Limited | 539398 | May 31, 2021 | |
| BSE | Shubham Polyspin Limited | 542019 | May 31, 2021 | |
| BSE | Sharika Enterprises Limited | 540786 | May 31, 2021 | |
| NSE | Moksh Ornaments Limited | MOKSH | May 21, 2021 | |
| NSE | Ajooni Biotech Limited | AJOONI | May 07, 2021 | |
| NSE | Saketh Exim Limited | TEMBO | Apr 23, 2021 | |
| NSE | Nitiraj Engineers Limited | NITIRAJ | Apr 22, 2021 | |
| BSE | Sylph Education Solutions Limited | 539682 | Apr 22, 2021 | |
| BSE | Shankar Lal Rampal Dye-Chem Limited | 542232 | SRD | Apr 08, 2021 |
| NSE | Arvee Laboratories (India) Limited | ARVEE | Mar 22, 2021 | |
| BSE | Shish Industries Limited | 540693 | Mar 22, 2021 | |
| BSE | Deep Polymers Limited | 541778 | Mar 12, 2021 | |
| NSE | Silgo Retail Limited | SILGO | Mar 03, 2021 | |
| NSE | Iris Clothings Limited | IRISDOREME | Feb 22, 2021 | |
| NSE | Rajnandini Metal Limited | RAJMET | Feb 16, 2021 | |
| NSE | Akg Exim Limited | AKG | Feb 16, 2021 | |
| NSE | Ahlada Engineers Limited | AHLADA | Jan 28, 2021 | |
| NSE | Wealth First Portfolio Managers Limited | WEALTH | Jan 20, 2021 | |
| BSE | Aditya Vision Limited | 540205 | Jan 15, 2021 | |
| BSE | BCPL Railway Infrastructure Limited (BRIL) | 542057 | Jan 04, 2021 | |
| NSE | Godha Cabcon & Insulation Limited | GODHA | Dec 24, 2020 | |
| NSE | Mangalam Global Enterprise Limited | MGEL | Dec 23, 2020 | |
| NSE | RKEC Projects Limited | RKEC | Dec 18, 2020 | |
| NSE | Rudrabhishek Enterprises Limited | REPL | Dec 14, 2020 | |
| NSE | Accuracy Shipping Limited | ACCURACY | Dec 11, 2020 | |
| BSE | Gautam Gems Limited | 540936 | Dec 10, 2020 | |
| BSE | Palm Jewels Limited | 541444 | Dec 10, 2020 | |
| NSE | Global Education Limited | GLOBAL | Dec 07, 2020 | |
| NSE | Supreme Engineering Limited | SUPREMEENG | Dec 04, 2020 | |
| NSE | Marine Electricals (India) Limited | MARINE | Dec 02, 2020 | |
| BSE | Shree Ganesh Remedies Limited | 540737 | Nov 25, 2020 | |
| NSE | Dangee Dums Limited | DANGEE | Nov 13, 2020 | |
| NSE | Keerti Knowledge And Skills Limited | GTECJAINX | Nov 13, 2020 | |
| NSE | Aaron Industries Limited | AARON | Nov 06, 2020 | |
| NSE | D P Abhushan Limited | DPABHUSHAN | Nov 03, 2020 | |
| BSE | Yasho Industries Limited | 541167 | YASHO | Oct 29, 2020 |
| NSE | Banka BioLoo Limited | BANKA | Oct 29, 2020 | |
| NSE | Bombay Super Hybrid Seeds Limited | BSHSL | Oct 28, 2020 | |
| NSE | Shradha Infraprojects (Nagpur) Limited | SHRADHA | Oct 22, 2020 | |
| BSE | Junction Fabrics and Apparels Limited | 539216 | Oct 21, 2020 | |
| BSE | Add-Shop Promotions Limited | 541865 | Oct 21, 2020 | |
| BSE | Trident Texofab Limited | 540726 | Oct 20, 2020 | |
| NSE | Suumaya Lifestyle Limited | SUULD | Oct 19, 2020 | |
| NSE | ICE Make Refrigeration Limited | ICEMAKE | Oct 12, 2020 | |
| NSE | Globe Textiles (India) Limited | GLOBE | Oct 07, 2020 | |
| NSE | Sintercom India Limited | SINTERCOM | Oct 07, 2020 | |
| BSE | Dynamic Cables Limited | 540795 | DYCL | Oct 01, 2020 |
| NSE | Aakash Exploration Services Limited | AAKASH | Sep 29, 2020 | |
| NSE | Shree Ram Protiens Limited | SRPL | Sep 23, 2020 | |
| BSE | Tasty Dairy Specialities Limited | 540955 | Sep 17, 2020 | |
| BSE | Bhatia Communications & Retail (India) Limited | 540956 | Sep 17, 2020 | |
| BSE | Valiant Organics Limited | 540145 | VALIANTORG | Sep 04, 2020 |
| NSE | Total Transport Systems Limited | TOTAL | Aug 28, 2020 | |
| NSE | Macpower CNC Machines Limited | MACPOWER | Aug 19, 2020 | |
| NSE | Madhav Copper Limited | MCL | Aug 19, 2020 | |
| NSE | Worth Peripherals Limited | WORTH | Aug 04, 2020 | |
| NSE | Tirupati Forge Limited | FORGE | Aug 04, 2020 | |
| NSE | Silly Monks Entertainment Limited | SILLYMONKS | Jul 08, 2020 | |
| NSE | Aarvi Encon Limited | AARVI | Jun 24, 2020 | |
| NSE | Univastu India Limited | UNIVASTU | Jun 22, 2020 | |
| BSE | GG Engineering Limited | 540614 | Jun 03, 2020 | |
| NSE | Kapston Facilities Management Limited | KAPSTON | May 27, 2020 | |
| BSE | Mitsu Chem Plast Limited | 540078 | May 27, 2020 | |
| BSE | Shashijit Infraprojects Limited | 540147 | May 20, 2020 | |
| NSE | Vertoz Advertising Limited | VERTOZ | May 14, 2020 | |
| NSE | Mittal Life Style Limited | MITTAL | Apr 29, 2020 | |
| BSE | Artemis Electricals Limited | 542670 | Mar 06, 2020 | |
| NSE | Geekay Wires Limited | GEEKAYWIRE | Mar 06, 2020 | |
| BSE | Global Space Technologies Limited | 540654 | Feb 14, 2020 | |
| BSE | Bhakti Gems and Jewellery Limited | 540545 | Feb 05, 2020 | |
| NSE | Touchwood Entertainment Limited | TOUCHWOOD | Jan 21, 2020 | |
| NSE | D P Wires Limited | DPWIRES | Jan 17, 2020 | |
| NSE | Vaishali Pharma Limited | VAISHALI | Jan 15, 2020 | |
| NSE | MMP Industries Limited | MMP | Jan 09, 2020 | |
| NSE | Panache Digilife Limited | PANACHE | Jan 06, 2020 | |
| BSE | Share India Securities Limited | 540725 | SHAREINDIA | Dec 02, 2019 |
| BSE | Oceanic Foods Limited | 540405 | Nov 28, 2019 | |
| BSE | Mehai Technology Limited | 540730 | Nov 11, 2019 | |
| NSE | Jash Engineering Limited | JASH | Oct 30, 2019 | |
| BSE | Dhanuka Commercial Limited | 538446 | Oct 22, 2019 | |
| NSE | Akash Infra Projects Limited | AKASH | Oct 11, 2019 | |
| BSE | Suncare Traders Limited | 539526 | Oct 09, 2019 | |
| BSE | Zeal Aqua Limited | 539963 | Oct 07, 2019 | |
| BSE | 7NR Retails Limited | 540615 | Aug 28, 2019 | |
| BSE | CHD Chemicals Limited | 539800 | Aug 27, 2019 | |
| BSE | Riddhi Corporate Services Limited | 540590 | Aug 26, 2019 | |
| NSE | Krishana Phoschem Limited | KRISHANA | Aug 22, 2019 | |
| NSE | Madhya Bharat Agro Products Limited | MBAPL | Aug 22, 2019 | |
| NSE | Zota Health Care Limited | ZOTA | Aug 19, 2019 | |
| BSE | Raghav Ramming Mass Limited | 539837 | RPEL | Aug 13, 2019 |
| NSE | Creative Peripherals & Distribution Limited | CREATIVE | Aug 05, 2019 | |
| NSE | Shrenik Limited | SHRENIK | Aug 02, 2019 | |
| NSE | Sumit Woods Limited | SUMIT | Jul 30, 2019 | |
| NSE | Libas Designs Limited | LIBAS | Jul 23, 2019 | |
| NSE | Sirca Paints India Limited | SIRCA | Jul 22, 2019 | |
| NSE | InfoBeans Technologies Limited | INFOBEAN | Jul 15, 2019 | |
| NSE | Sanginita Chemicals Limited | SANGINITA | Jul 15, 2019 | |
| BSE | Maximus International Limited | 540401 | Jul 03, 2019 | |
| BSE | Advance Syntex Limited | 539982 | Jul 01, 2019 | |
| NSE | Steel City Securities Limited | STEELCITY | Jun 27, 2019 | |
| BSE | R & B Denims Limited | 538119 | May 30, 2019 | |
| BSE | Bajaj Healthcare Limited | 539872 | May 29, 2019 | |
| BSE | Commercial Syn Bags Limited | 539986 | COMSYN | May 13, 2019 |
| NSE | One Point One Solutions Limited | ONEPOINT | May 09, 2019 | |
| NSE | Airan Limited | AIRAN | May 03, 2019 | |
| NSE | South West Pinnacle Exploration Limited | SOUTHWEST | Apr 18, 2019 | |
| NSE | Maheshwari Logistics Limited | MAHESHWARI | Apr 15, 2019 | |
| NSE | Sakar Healthcare Limited | SAKAR | Apr 11, 2019 | |
| BSE | Narayani Steels Limited | 540080 | Mar 08, 2019 | |
| NSE | Agro Phos India Limited | AGROPHOS | Mar 08, 2019 | |
| BSE | Mangalam Seeds Limited | 539275 | Mar 01, 2019 | |
| BSE | Oyeeee Media Limited | 539310 | Feb 14, 2019 | |
| NSE | Sagardeep Alloys Limited | SAGARDEEP | Jan 25, 2019 | |
| BSE | Darshan Orna Limited | 539884 | Dec 12, 2018 | |
| BSE | Tejnaksh Healthcare Limited | 539428 | Dec 12, 2018 | |
| BSE | Shanti Educational Initiatives Limited | 539921 | Dec 12, 2018 | |
| BSE | K.P. Energy Limited | 539686 | Oct 10, 2018 | |
| BSE | Prabhat Telecoms (India) Limited | 540027 | Sep 18, 2018 | |
| BSE | Yash Chemex Limited | 539939 | Sep 07, 2018 | |
| BSE | Umiya Tubes Limited | 539798 | Jul 23, 2018 | |
| BSE | Loyal Equipments Limited | 539227 | Jun 07, 2018 | |
| BSE | Sri Krishna Constructions (India) Limited | 539363 | May 29, 2018 | |
| BSE | Ambition Mica Limited | 539223 | May 15, 2018 | |
| BSE | Lancer Container Lines Limited | 539841 | LANCER | May 10, 2018 |
| NSE | Hi-Tech Pipes Limited | HITECH | May 07, 2018 | |
| BSE | Bella Casa Fashion & Retail Limited | 539399 | Mar 08, 2018 | |
| BSE | Vibrant Global Capital Limited | 538732 | Feb 23, 2018 | |
| BSE | Jiya Eco Products Limited | 539225 | JIYAECO | Feb 08, 2018 |
| BSE | AGI Infra Limited | 539042 | AGIIL | Jan 23, 2018 |
| BSE | Starlit Power Systems Limited | 538733 | Jan 16, 2018 | |
| BSE | ADCC Infocad Limited | 538734 | Jan 08, 2018 | |
| NSE | Momai Apparels Limited | MOMAI | Dec 19, 2017 | |
| BSE | M D Inducto Cast Limited | 539226 | Dec 05, 2017 | |
| BSE | Chemtech Industrial Valves Limited | 537326 | Nov 22, 2017 | |
| BSE | Vishal Fabrics Limited | 538598 | Nov 22, 2017 | |
| BSE | B C Power Controls Limited | 537766 | Nov 15, 2017 | |
| BSE | Gala Print City Limited | 539228 | Nov 09, 2017 | |
| BSE | Mishka Exim Limited | 539220 | Nov 09, 2017 | |
| BSE | Shri Krishna Prasadam Limited | 537954 | Oct 13, 2017 | |
| BSE | Karnavati Finance Limited | 538928 | Aug 09, 2017 | |
| BSE | Akme Star Housing Finance Limited | 539017 | Jun 30, 2017 | |
| BSE | Aanchal Ispat Limited | 538812 | Jun 05, 2017 | |
| BSE | Anubhav Infrastructure Limited | 538833 | May 15, 2017 | |
| BSE | Dhabriya Polywood Limited | 538715 | Apr 27, 2017 | |
| BSE | VCU Data Management Limited | 536672 | Mar 30, 2017 | |
| BSE | Oasis Tradelink Limited | 538547 | Feb 21, 2017 | |
| BSE | Atishay Infotech Limited | 538713 | Feb 02, 2017 | |
| BSE | Ultracab India Limited | 538706 | Jan 20, 2017 | |
| BSE | Suyog Telematics Limited | 537259 | SUYOG | Jan 03, 2017 |
| BSE | RCI Industries & Technologies Limited | 537254 | Dec 12, 2016 | |
| NSE | Sanco Industries Limited | SANCO | Nov 22, 2016 | |
| BSE | Monarch Health Services Limited | 534422 | Apr 28, 2016 | |
| BSE | Comfort Commotrade Limited | 534691 | Apr 28, 2016 | |
| BSE | Captain Polyplast Limited | 536974 | Feb 17, 2016 | |
| BSE | Tiger Logistics (India) Limited | 536264 | Feb 16, 2016 | |
| BSE | VKJ Infradevelopers Limited | 536128 | Jan 14, 2016 | |
| BSE | Lakhotia Polyesters (India) Limited | 535387 | Jan 06, 2016 | |
| BSE | Edynamics Solutions Limited | 535694 | Jan 06, 2016 | |
| BSE | Silverpoint Infratech Limited | 536073 | Nov 09, 2015 | |
| BSE | India Finsec Limited | 535667 | Oct 16, 2015 | |
| BSE | Kavita Fabrics Limited | 535136 | Aug 28, 2015 | |
| BSE | Jupiter Infomedia Limited | 534623 | Jun 03, 2015 | |
| BSE | Ashapura Intimates Fashion Limited | 535467 | AIFL | Jun 03, 2015 |
| BSE | Sangam Advisors Limited | 534618 | Apr 23, 2015 | |
| BSE | Bronze infra-tech Limited | 534731 | Feb 16, 2015 | |
| BSE | SRG Housing Finance Limited | 534680 | SRGHFL | Feb 04, 2015 |
| BSE | A & M Febcon Limited | 540697 | ||
| BSE | ADITRI INDUSTRIES LIMITED | 534707 | Feb 12, 2020 | |
| BSE | Amsons Apparels Limited | 538861 | Dec 08, 2016 | |
| BSE | Funny Software Limited | 539169 | ||
| BSE | KUSHAL LIMITED | 536170 | May 29, 2015 | |
| BSE | Oceanaa Biotek Industries Limited | 538019 | Nov 30, 2014 | |
| BSE | Poojawestern Metaliks Limited | 540727 | Sep 16, 2021 | |
| BSE | SATKAR FINLEASE LIMITED | 536592 | Sep 25, 2013 | |
| BSE | Sunstar Realty Development Limited | 535141 | Mar 11, 2013 |
Read Also: Benefits of SME IPO Listing – Advantages and Disadvantages of Stock Market Listing
SME Migration Criteria – Migration of BSE SME to BSE Mainboard
Eligibility Criteria for BSE SME Migration to Mainboard
These are the major eligibility conditions for SMEs already listed on the BSE SME platform to migrate to the Mainboard exchange of the BSE:
- The post-issue paid-up capital of the applicant company is INR 10 crore or more, as well as the minimum market capitalization of INR 25 crores.
- The applicant company must have a minimum net worth of INR 15 crore for the preceding 2 full financial years.
- A history of positive operating profit (EBITDA) for 2 of the last 3 years.
- The applicant company should be a listed entity at BSE SME for a minimum duration of 3 years.
- The latest shareholding pattern should show a minimum of 250 public shareholders of the applicant.
- The Promoter is holding 20% of equity to be held on the day of filing of application.
- The migrating SME’s promoters and/or directors must not have been debarred or banned by SEBI.
- No winding-up petition should have been admitted against the company by the NCLT (National Company Law Tribunal).
- No significant regulatory action like trading suspension should have been taken against the company in the past 3 years.
- The migration requires passing a special resolution with at least 2/3rd votes from public shareholders, excluding promoters.
Documents Checklist for BSE SME Migration to Mainboard
Documents required for migration from BSE SME to BSE Mainboard with in-principle approval:
- Shareholders were sent a printed copy of the AGM/EGM notice seeking their approval on the migration.
- Resolutions of the shareholders and board of directors and a certified copy concerning the migration.
- Scrutinizer report to provide the results of voting by public shareholders.
- The format is filled up & Signed by the company secretary/managing director.
- The processing fee is INR 2,00,000 or 0.05% of market capitalization, whichever is higher.
- No complaints or clean track record of the company.
- Hard copy and soft copy of the information memorandum duly signed by the company secretary or managing director.
- The company’s latest shareholding pattern is not older than 15 days when the migration application is submitted to the exchange.
- Confirmation from the CS, MD, or compliance officer stating that promoters or directors are not in any violation of practices.
- Confirmation from a merchant banker, statutory auditor, or compliance officer stating the weighted average market capitalization of the preceding 20 trading days.
- Company promoters’ and directors’ PAN details.
- Corporate governance compliance report duly signed by the Chief Executive officer or compliance officer.
SME Migration Criteria – Migration of NSE SME to NSE Mainboard
Eligibility Criteria for NSE SME Migration to Mainboard
As per Circular No. NSE/CML/67671 dated 24 April 2025, the National Stock Exchange of India (NSE) has announced revised eligibility criteria for migration from the SME Platform (NSE Emerge) to the Mainboard, which will come into effect from 1 May 2025. The key updated norms are as follows:
1. Paid-up Capital & Market Capitalization
- Paid-up equity capital must be at least INR 10 crores.
- Average market capitalization must be at least INR 100 crores.
2. Revenue and Profitability
- Revenue from operations must be greater than INR 100 crores in the most recent financial year.
- The company must have reported a positive operating profit (EBIDTA) from operations in at least 2 out of the last 3 financial years.
3. Listing History: The company must have been listed on the NSE SME platform for a minimum of 3 years.
4. Public Shareholding: The number of public shareholders must be at least 500 as of the date of application.
5. Promoter and Promoter Group Holding
- Promoters must collectively hold at least 20% of the total shareholding at the time of application.
- Promoter group must retain at least 50% of the shares held by them at the time of SME listing, on the date of migration application.
6. Net Worth Requirement: The company’s net worth must be at least INR 75 crores.
7. Other Conditions
- No insolvency or bankruptcy proceedings have been admitted against the company or its promoters.
- No winding-up petition has been admitted against the company by NCLT.
- No material regulatory actions (such as suspension of trading) have been initiated against the company or promoters in the last 3 years.
- Neither the company nor the promoters/subsidiaries/directors are debarred by SEBI or any regulatory authority.
- There must be no pending investor complaints in the SCORES platform.
- A cooling-off period of 2 months is required if the security has exited from any Trade-to-Trade (T2T) category or other surveillance measures.
- No default in repayment of principal/interest to debenture/bond/fixed deposit holders by the company, promoters, or subsidiaries.
Major Differences Compared to Old Criteria:
- Higher Market Capitalization requirement (raised from INR 25 crores to INR 100 crores).
- Revenue threshold introduced (minimum INR 100 crore annual revenue now mandatory).
- Profitability norms slightly relaxed (positive operating profit in 2 out of 3 years vs earlier requirement of positive cash accruals for 3 years + profit after tax).
- Lower minimum public shareholders requirement (reduced from 1000 to 500).
- Higher Net Worth requirement (increased from INR 50 crores to INR 75 crores).
- Additional new conditions related to regulatory compliance, investor complaints, surveillance category cooling period, and payment defaults added.
Documents Checklist for NSE SME Migration
An SME company listed on the NSE Emerge that wishes to migrate to the NSE mainboard must submit the following documents to the exchange along with the migration application.
- Migration Confirmation from the SME company is to be filled in the format prescribed by the exchange.
- Auditor’s certificate on the net worth of the company.
- Auditor’s certificate on the details of the use of funds raised from the public.
- Company details (SCORES authentication ID, Investor grievance redressal mechanism, change in company control since listing, etc.) in the prescribed format.
- Certificate of the company on compliance with SEBI (Listing and Disclosure Requirements) regulations.
- A certified copy of the board members’ resolution for the proposed migration from SME to the main board.
- Certified copy of the postal ballot to obtain shareholders’ approval for the migration.
- Information memorandum.
- Scrutinizer report providing the results of promoter and public voting.
- Certified copy of the shareholder resolution approving the migration.
SME Migration to Mainboard FAQs
How many companies have migrated from SME IPO to mainboard exchanges?
As of 12 June 2025, a total of 1,039 companies are listed together on the BSE SME and NSE SME exchange in India. Out of these, 338 companies have migrated to the main board exchange.
What are the benefits of migrating from an SME IPO to the mainboard exchange?
The migration to the mainboard offers several benefits to SMEs, including Improved Stock Performance, Increased Retail Investor Participation, No Market Maker Requirement, Listing on Both Exchanges, Entrance into the Mainboard League, and more.
How many years a company has to wait for migration?
A company can migrate to mainboard after listing on SME exchanges for a minimum of 3 years.