sebi
Published on 9 April 2025
BSE Updates on SME Public Issue Bidding Process for 2024
Introduction
The Bombay Stock Exchange (BSE) has announced updates related to the bidding process for Small and Medium Enterprises (SME) Public Issues, following guidance from the Securities and Exchange Board of India (SEBI). This notice details the changes in the validation process for specific reserved category bids.
Key Updates for SME Public Issues
The BSE's notice outlines critical changes that companies and issuers must adhere to regarding reserved category bids such as Employee (EMP), Shareholder (SHA), and Policyholder (POL). The notable updates are summarized below:
Mandatory Submission of Reserved Category Details
- Timeline: Companies and issuers must provide details of reserved categories at least one day before the issue opening date, specifically before 12:00 PM.
- Effective Date: This requirement applies to all SME public issues opening for subscription on or after June 21, 2024.
Validation Process
The BSE's book building platform will now verify the eligibility of applicants prior to the acceptance of bids for reserved categories. This verification will be based on the information supplied by the companies or issuers.
Required Format and Documentation
Submissions of reserved category details must follow a prescribed format. The information related to file naming conventions and required data types is provided in the specifications outlined below.
File Submission Guidelines
File Naming Convention
- Format: The file must be named in the following manner:
<Symbol of the Company>_RC_<DDMMYYYY>.csv- Example:
ABCD_RC_06062024.csv
Required Fields and Data Types
Below are the fields that must be included, their data types, lengths, and remarks:
| Fields | Datatype | Length | Mandatory | Remarks |
|---|---|---|---|---|
| Symbol | Alphanumeric | 50 | Yes | Existing symbol rules shall prevail |
| ISIN | Alphanumeric | 20 | Yes | ISIN allotted to the Issue |
| Date | Alphanumeric (DD-MM-YYYY) | 10 | Yes | Date of submission of the File |
| PAN | Alphanumeric | 10 | Yes | Existing PAN rules shall prevail |
| Category | Alphanumeric | 3 | Yes | Value shall be: ‘EMP’, ‘SHA’, ‘POL’ |
| Name | Alphanumeric | 50 | Yes | Name of the Employee |
| Filler1 | String | 100 | No | Extra Field |
| Filler2 | String | 100 | No | Extra Field |
| Filler3 | String | 100 | No | Extra Field |
Conclusion
The adherence to these new guidelines will streamline operations and facilitate better engagement with reserved category investors.