The board of Securities and Exchange Board of India (Sebi) will meet on Saturday to give its final approval for the setting up of a dedicated stock exchange for small and medium enterprises, a finance ministry official said on Wednesday.
“Sebi board is meeting on November 29, and is likely to clear the proposal for setting up SME exchange,” the official said.
The market regulator had earlier this month detailed guidelines for setting up dedicated stock exchange for small and medium enterprises.
According to the guidelines, existing stock exchanges can also set up a dedicated platform for trading in shares of small and medium enterprises.
The capital market regulator has already invited applications for setting up dedicated exchanges for small and medium enterprises.
Sebi said the proposed exchange should be a corporate entity with a minimum net worth of Rs 100 crore.
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The board of Securities and Exchange Board of India is slated to meet on Friday to discuss liquidity situation and its impact on the mutual fund industry, among other issues, Sebi officials said.
A finance ministry official had earlier said the Sebi board is meeting on Saturday to give its final approval for setting up a dedicated stock exchange for small and medium enterprises.
Sebi board is also likely to discuss contours of foreign institutional investment regulations, an official said.
The capital market regulator has undertaken a comprehensive review of FII regulations, and changes are likely to be put up for public comments shortly.