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of <h1>SME Exchange Issuers Can Migrate to Main Board with Shareholder Approval and Capital Criteria; Mandatory if Capital Exceeds 25 Crore.</h1> An issuer with securities listed on an SME Exchange can migrate to the Main Board if its post-issue face value capital is between ten and twenty-five crore rupees. This requires shareholder approval via a special resolution passed through postal ballot, with non-promoter votes in favor being at least twice those against. If the capital exceeds twenty-five crore rupees due to further capital issues, migration to the Main Board is mandatory, subject to fulfilling eligibility criteria. No further capital issue is allowed unless the migration is approved by shareholders and in-principle approval for listing on the Main Board is obtained.
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