Explain the following: (b) Institutional Trading Platform

Institutional Trading Platform (ITP): SEBI has notified new norms for listing of small and medium enterprises (SMEs), including start-up companies, on Institutional Trading Platforms (ITP) on stock exchanges without an initial public offering (IPO). This allows SMEs to list on stock exchanges without raising funds from the public. In the modified rules to permit listing of start-ups and SMEs on ITP without an IPO, a minimum amount of trading or investment on the ITP would be ₹10 lakh. This move aims to provide easier exit options for entities such as Angel investors, capital funds, and private equity.