Keystone · IPO
SME IPO Eligibility Checker
Screen your company against reference SME IPO criteria and get an advisory readiness score across five dimensions.
In short: SME IPO eligibility depends on exchange-specific criteria covering track record, profitability, net worth, tangible assets and post-issue capital (generally up to ₹25 crore for the SME route). A preliminary screen indicates what needs preparation — it is not a regulatory determination.
Company profile
Pass
5
Fail
0
Unknown
5
Needs more information
Advisory readiness
64/100
Incomplete — missing: 2
Reference criteria are indicative — verify against current NSE Emerge and BSE SME requirements. Treat results as a preparation checklist, not an eligibility determination.
The company (or its promoters/parent where applicable) is generally expected to demonstrate a track record of at least three years.
PASSTrack record of 5 years meets the 3-year reference.
Common · Source
Post-issue paid-up capital should not exceed ₹25 crore for the SME route (SEBI ICDR definition).
UNKNOWNExpected post-issue paid-up capital was not provided.
Common · Source
Audited financial statements for the required track-record period are expected before filing.
UNKNOWNWhether audited financial statements exist was not confirmed.
Common · Source
The company and promoters should not have unresolved regulatory defaults or debarments.
UNKNOWNRegulatory default history was not confirmed.
Common · Source
Material litigation must be assessed and disclosed; significant unresolved litigation can affect eligibility and disclosures.
UNKNOWNMaterial litigation status was not confirmed.
Common · Source
NSE Emerge reference commonly cited: positive operating profit (EBIT) in at least 2 of the last 3 financial years.
PASSEBITDA is positive in 3 of the last 3 reported years.
NSE EMERGE · Source
NSE Emerge reference: positive net worth.
PASSLatest net worth is positive.
NSE EMERGE · Source
BSE SME reference commonly cited: net worth of at least ₹1 crore for the preceding periods.
PASSLatest net worth (₹34000000 Cr) meets the ₹1 Cr reference.
BSE SME · Source
BSE SME reference commonly cited: net tangible assets of at least ₹3 crore in the latest full financial year.
UNKNOWNNet tangible assets were not provided.
BSE SME · Source
BSE SME reference commonly cited: positive cash accruals (earnings before depreciation and tax) in at least one recent financial year; verify current wording.
PASSEBITDA is positive in 3 of the last 3 reported years.
BSE SME · Source
Worked example
A five-year-old company with three years of positive EBITDA, ₹3.4 Cr net worth and audited financials typically passes the common track-record, profitability and documentation references; capital structure questions remain until post-issue capital is estimated.
Related tools
IPO Cost & Timeline Estimator
Indicative SME IPO cost ranges and a dependency-aware listing timeline.
SME vs Mainboard IPO Comparison
Side-by-side comparison of requirements, costs, timelines and obligations.
IPO Compliance Calendar
Recurring post-listing obligations by month with downloadable calendar files.
Discuss your IPO readiness with Keystone
Estimates are indicative. A Keystone advisor can review your specific position.
Does passing this checklist mean we can file?
No. Exchange eligibility involves more conditions (promoter history, litigation, public-shareholding and more). Use this as a preparation checklist and engage an advisor for a definitive review.
What if some items show UNKNOWN?
UNKNOWN means required information was not provided. It is never treated as a pass.
Sources and references
This tool provides indicative estimates for education and planning only. It is not investment advice, a fairness opinion, a tax computation, a financing offer or a regulatory determination. Consult a qualified advisor before acting on any result.
Service: IPO Advisory