It had notified new provisions and issued a detailed circular to facilitate such listings last October.

Meanwhile, industry experts hailed the Budget proposal to set up a 10,000 crore start-up fund, saying the move will spawn an era of entrepreneurship and innovation in the country as the small and medium industries are the backbone of the economy.

“The proposed venture capital fund will give a big boost to new generation of entrepreneurs who are innovative, but facing crunch in capital, which in turn will lead to lot of path-breaking ideas getting transformed to reality, especially in the technological field,” serial entrepreneur and founder of the only publically traded cloud computing firm 8KMiles, Suresh Venkatachari, said.

According to the SME listing norms, a company would be eligible for listing if it has not completed 10 years after incorporation, and its revenue has not exceeded 100 crore in any of the financial years.

In addition, the company should have got an investment of at least 50 lakh by an alternative investment fund, or a venture capital fund, or by a merchant banker, or an angel investor, or a specialized international multilateral agency, or a public financial institution, among other such investors, according to SEBI.

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