Write the short notes on the following: Exemption available for securities listed at SME exchange.

Exemption available for securities listed at SME exchange under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018: According to Regulation 229 of said regulations, Eligibility requirements for an IPO are relaxed. There is no additional requirements for offer for sale. Lock-in of partly paid up equity shares is not applicable. The allocation in case of SME is Minimum fifty percent to retail investor. No requirements of IPO Grading. The provisions of Minimum subscription is not applicable. According to Regulation 276 of the said regulations, a listed issuer whose post-issue face value capital is less than twenty five crore rupees may migrate its specified securities to SME exchange if its shareholders approve such migration by passing a special resolution through postal ballot to this effect and if such issuer fulfils the eligibility criteria for listing laid down by the SME exchange.