I] Minimum Listing Requirements for New Companies The following eligibility criteria have been prescribed effective August

1, 2006 for listing of companies on BSE, through Initial Public Offerings (IPOs) & Follow-on Public Offerings (FPOs):

1. Companies have been classified as large cap companies and small cap companies. A large cap
company is a company with a minimum issue size of Rs. 10 crore and market capitalization of not less than Rs. 25 crore. A small cap company is a company other than a large cap company.

a. In respect of Large Cap Companies i. ii. iii.

The minimum post-issue paid-up capital of the applicant company (hereinafter referred to as "the Company") shall be Rs. 3 crore; and The minimum issue size shall be Rs. 10 crore; and The minimum market capitalization of the Company shall be Rs. 25 crore (market capitalization shall be calculated by multiplying the post-issue paid-up number of equity shares with the issue price).

b. In respect of Small Cap Companies i. ii. iii. iv. v. vi.

The minimum post-issue paid-up capital of the Company shall be Rs. 3 crore; and The minimum issue size shall be Rs. 3 crore; and The minimum market capitalization of the Company shall be Rs. 5 crore (market capitalization shall be calculated by multiplying the post-issue paid-up number of equity shares with the issue price); and The minimum income/turnover of the Company shall be Rs. 3 crore in each of the preceding three 12-months period; and The minimum number of public shareholders after the issue shall be 1000. A due diligence study may be conducted by an independent team of Chartered Accountants or Merchant Bankers appointed by BSE, the cost of which will be borne by the company. The requirement of a due diligence study may be waived if a financial institution or a scheduled commercial bank has appraised the project in the preceding 12 months.

2. For all companies : a. In respect of the requirement of paid-up capital and market capitalization, the issuers
shall be required to include in the disclaimer clause forming a part of the offer document that in the event of the market capitalization (product of issue price and the post issue number of shares) requirement of BSE not being met, the securities of the issuer would not be listed on BSE. The applicant, promoters and/or group companies, shall not be in default in compliance of the listing agreement. The above eligibility criteria would be in addition to the conditions prescribed under SEBI (Disclosure and Investor Protection) Guidelines, 2000.

b. c.

Procedure Of Ipo - September 10th, 2005 Appointment Procedure 1. Meeting of Board of Directors 2. Appointing of Merchant Bankers- Specialized financial Consultancy who looks after Initial Public Offering 3. Apponting of Registrar and transfer agent done by Merchant Bankers 4. Banks- Appointed by Merchant Bankers 5. Appointing of Lawyer Real Procedure 6. Book issued by Merchant bankers and submit it to SEBI which includes Reason of Issuing, no of Shares, Financial Condition of the company, current Business, Management, Growth in Sectors and Risk factor 7. Prospectus- Issued to stock Market and registrars 8. Printing Of Forms 9. appointment of Brokers 10. Marketing & Advertising 11. Brokers Meeting in a Company 12. Road Shows or meetings 13. IPO starts 3-7 days opened 14. IPO closed Post IPO 15. collection of Forms 16. Oversubscription or Undersubscription 17. Allotement Of shares a. Pro data allotement b. lottery system 18. Issue of share certificate a. Letter of allotement b. regret Leter 19. Refund cheque 20. Listing Of shares in NSE or BSe