Knowledge Centre / Before you start
What is the difference between the SME platform and the Main Board?
Is this the right time, and the right route?
SME platforms, such as BSE SME and NSE Emerge, are for companies whose paid-up capital after the issue is up to Rs 25 crore. They have their own eligibility tests, the issue is fully underwritten, and a market maker must quote prices for at least three years after listing.
The Main Board is for larger companies, with its own conditions. Some companies list on an SME platform first and move to the Main Board once they meet its conditions.
More on Before you start
- Is my company actually suitable for an IPO?
- What is the right time for me to raise funds?
- Why raise money through an IPO instead of a loan?
- How should I prepare before meeting a merchant banker, and what should I ask?
- Can a company of my size raise money through an SME IPO?
- My operating profit is below the SME test today. Is there any point talking?
All 40 questionsIPO reviewsHow the preparation works
General information, not legal or investment advice. Rules as at 2 November 2026.
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