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NSE Academy

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We conduct financial education workshops through NSE Academy to develop a new generation investors.

To introduce more first-time investors to the Indian markets and attract them to our exchange, our outreach, advertising and expansion initiatives seek to transform India’s strong culture of saving into an “equity culture”. We plan to intensify our outreach and advertising programs directed at younger Indians through our wholly-owned Subsidiary, NSE Academy, which promotes financial literacy as a necessary life skill. NSE Academy’s initiatives, including partnerships with state and national school boards and schools, interactive courses on personal finance and certification programs, teach school children, homemakers and other non-finance professionals the value of investing, provide an introduction to the Indian capital markets and help to develop new market professionals.

A critical element of the financial sector reforms is the development of a pool of human resources having right skills and expertise in each segment of the industry to provide quality intermediation to market participants.

In 2016, we consolidated our education business under NSE Academy, our wholly-owned Subsidiary. Our educational programs business is administered by our wholly-owned Subsidiary, NSE Academy Limited and offers programs in various aspects of banking, financial services, financial markets and financial literacy.

Our NSE Academy Certification in Financial Markets, or NCFM, program is an online testing and certification program that tests the practical knowledge and skills required to operate in the financial markets. The NCFM program operates on our intranet and is administered through our designated test centers located across India.

Qualifications for listing Initial Public Offerings (IPO) are as below:

1.Paid up Capital

The paid-up equity capital of the applicant shall not be less than 10 crores * and the capitalization of the applicant's equity shall not be less than 25 crores**

* Explanation 1

For this purpose, the post issue paid up equity capital for which listing is sought shall be taken into account.

** Explanation 2

For this purpose, capitalisation will be the product of the issue price and the post issue number of equity shares. In respect of the requirement of paid-up capital and market capitalisation, the issuers shall be required to include, in the disclaimer clause of the Exchange required to put in the offer document, that in the event of the market capitalisation (Product of issue price and the post issue number of shares) requirement of the Exchange not being met, the securities would not be listed on the Exchange.

2.Conditions Precedent to Listing:

The Issuer shall have adhered to conditions precedent to listing as emerging from inter-alia from Securities Contracts (Regulations) Act 1956, Companies Act 1956/2013, Securities and Exchange Board of India Act 1992, any rules and/or regulations framed under foregoing statutes, as also any circular, clarifications, guidelines issued by the appropriate authority under foregoing statutes.

3.Atleast three years track record of either:

• The applicant seeking listing; or
• The promoters****/promoting company, incorporated in or outside India or
• Partnership firm and subsequently converted into a Company (not in existence as a Company for three years) and approaches the Exchange for listing. The Company subsequently formed would be considered for listing only on fulfillment of conditions stipulated by SEBI in this regard.

For this purpose, the applicant or the promoting company shall submit annual reports of three preceding financial years to NSE and also provide a certificate to the Exchange in respect of the following:

• That the company has not referred to the Board of Industrial & Financial Reconstruction (BIFR) &/OR No proceedings have been admitted under Insolvency and Bankruptcy Code against the issuer and Promoting companies.
• The company has not received any winding up petition admitted by a NCLT

• The net worth of the company should be positive. (Provided this criteria shall not be applicable to companies whose proposed issue size is more than Rs.500 crores)

  [*Net Worth – as defined under SEBI (Issue of Capital and Disclosure Requirements) Regulations , 2018.

****Promoters mean one or more persons with minimum 3 years of experience of each of them in the same line of business and shall be holding at least 20% of the post issue equity share capital individually or severally.

4.The applicant desirous of listing its securities should satisfy the exchange on the following:

• Redressal Mechanism of Investor grievance

The points of consideration are:

1. Details of pending investor grievances against Issuer, listed subsidiaries and top 5 listed group companies by Market Cap.

2. Arrangements or mechanism evolved for redressal of  investor grievances including through SEBI Complaints Redress System.

• Defaults in payment

  Defaults in respect of payment of interest and/or principal to the debenture/bond/fixed deposit holders by the applicant, promoters/promoting company(ies), group companies, Subsidiary Companies shall also be considered while evaluating a company's application for listing. The securities of the applicant company may not be listed till such time it has cleared all pending obligations relating to the payment of interest and/or principal.

  Note:
  a) In case a company approaches the Exchange for listing within six months of an IPO, the securities may be considered as eligible for listing if they were otherwise eligible for listing at the time of the IPO. If the company approaches the Exchange for listing after six months of an IPO, the norms for existing listed companies may be applied and market capitalisation be computed based on the period from the IPO to the time of listing.