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Companies that have a minimum post-issue capital of Rs 10 crores may raise funds to be listed on the NSE and BSE exchanges via Mainboard IPO.
SME IPO is open to companies with minimum post-issue capital in excess of Rs 1 crore or maximum Rs 25 crores. Through an SME IPO, the NSE Emerge and BSE SME platforms allow small and medium enterprises (SME), to raise funds and be listed on the exchange.
| Basis of Difference | Main Board IPO | IPO for SME |
|---|---|---|
| Post-issue capital | Minimum post-issue paid up capital of Rs. 10 crore | Minimum post-issue capital of Rs 1 Crore and maximum Rs 25 Crore |
| Minimum Allotees for IPO | The minimum number of allotees is 1000 | The minimum number of allotees is 50 |
| IPO Underwriting | Non-Mandatory (Under 50 percent compulsory subscription to QIB’s) | Mandatory (100% underwritten by Merchant Banker with underwriting 15% |
| Track Record | Stringent norms | Relaxed norms |
| Offer Document evaluation | By SEBI | By Stock Exchange |
| IPO Application size | Rs 10,000 - | Rs 1.00,000 |
| IPO Timeframe | 6-months after that | 3-4 months |
| Reporting Requirement | Quarterly | Half-yearly |
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