SME to Mainboard Migration Eligibility Checker
Check an SME-listed company against NSE Emerge's (or BSE SME's) current criteria for voluntary migration to the mainboard — track record, capital, market cap, profitability and shareholder-count thresholds. This is fully manual: migration eligibility depends on post-listing fundamentals we don't track for every SME company.
Migration Eligibility
6 of 7 criteria met
Not all criteria are currently met — see the breakdown below for what's missing.
✓ Listed for at least 3 years
3 years on the SME platform (need ≥3)
✓ Paid-up equity capital ≥ ₹10 Cr
₹10.00 Cr (need ≥₹10 Cr)
✓ Average market capitalisation ≥ ₹100 Cr
₹100.00 Cr (need ≥₹100 Cr)
✗ Revenue from operations > ₹100 Cr (latest FY)
₹100.00 Cr (need >₹100 Cr)
✓ Positive EBITDA in ≥2 of last 3 FYs
2 of last 3 years (need ≥2)
✓ Public shareholders ≥ 500 (NSE Emerge)
500 shareholders (need ≥500)
✓ Promoter holding ≥ 20%
35% promoter holding (need ≥20%)
Criteria per NSE's revised SME-to-mainboard migration circular (No. NSE/CML/67671, effective 1 May 2025); BSE SME sets its own shareholder-count threshold (250 vs NSE Emerge's 500) and revised its norms further in March 2026 — always confirm the exchange's current circular before acting on this checker.
How the SME to Mainboard Migration Eligibility Checker works
These criteria come from NSE's revised eligibility framework for migration from the SME platform (NSE Emerge) to the mainboard, issued via Circular No. NSE/CML/67671 dated 24 April 2025 and effective 1 May 2025: paid-up equity capital of at least ₹10 Cr, average market capitalisation of at least ₹100 Cr, revenue from operations exceeding ₹100 Cr in the latest financial year, positive operating profit (EBITDA) in at least 2 of the last 3 financial years, a minimum 3-year listing history on the SME platform, at least 500 public shareholders, and promoters holding at least 20% of total shareholding at the time of application.
BSE SME sets its own shareholder-count threshold — 250 rather than NSE Emerge's 500 — and further revised its migration norms in March 2026. Exact thresholds are periodically revised by both exchanges, so treat this as a directional checker and always confirm against the exchange's current circular before a company files for migration.
Disclaimer: This calculator is for educational purposes only and does not constitute investment advice. Always read the Red Herring Prospectus and verify current rates before applying for any IPO.