Bombay Stock Exchange and National Stock Exchange have received provisional approval from markets regulator, Securities and Exchange Board of India (SEBI), to launch separate platforms for small and medium sized companies, Financial Times reports. The new SME platforms will enable Indian companies to list at a lower cost and raise a smaller amount of money than on the main boards. The companies listing will have to report half-yearly results and not quarterly. The new trading platform will follow a hybrid model in the line of other exchanges, such as London’s junior Aim market or Nasdaq OMX.
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