Shares of Gujarat-based Kavita Fabrics will migrate to BSE mainboard from the stock exchange's SME platform on August 28.
This would be the seventh company out of the total 100 companies listed on the BSE segment for small and medium enterprises (SME) to migrate to the mainboard.
"Trading Members of the exchange are hereby informed that effective from Friday, August 28, 2015, the equity shares of Kavita Fabrics which are already listed under BSE SME platform will now be migrated and admitted to dealings on the mainboard platform in list of B Group," BSE said in a circular today.
Incorporated in 2005, Kavita Fabric established its unit at Surat (Gujarat) for manufacturing synthetic fabrics from man-made yarns by using weaving technology.
As per norms, companies have to be mandatorily listed and traded on the SME platform for a minimum period of two years and only after that they can migrate on to the main board as per the guidelines specified by market regulator Sebi.
BSE SME, launched in March 2012, helps SMEs raise equity capital for their growth and expansion and in due time enables them to migrate into the main board of the stock exchange as per the existing rules and regulations.
Currently, the market capitalisation of companies listed on BSE SME is Rs 7,634 crore.
