SEBI Reg. INZ000256637BSE Clg 0262NSE Clg 11859

Call 022 2272 1926

SME Market Making

Registered market makers on the NSE and BSE, and a partner for companies preparing to list.

Pen-and-ink engraving of a brass bell hanging in a carved frame under a pointed stone arch

Registered on both exchanges

We are registered market makers on the NSE and BSE, and we have earned the confidence of the regulators to sit on the SME list of market makers. As the guidelines require, we provide liquidity through the exchange platforms to investors in companies listed on the SME segment of both exchanges.

Three years after listing

Under SEBI guidelines for the SME platform, every company must have market making for at least three years after listing. We provide it for the full period.

Help before you list

We also advise companies that plan to list, on the SME platform or the Main Board, before and during the IPO. We are not a merchant banker: we liaise with leading merchant bankers, who prepare the offer document and manage the issue. Our part:

  • Preparing a company for listing
  • Discussing realistic valuation expectations
  • Liaising with the merchant banker and the exchanges
  • Market making after listing
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How it works

The path to an SME listing

The general route a company takes from first conversation to a listed share. The steps marked in gold are where HNSPL works with you.

  1. Prepare the company

    Accounts, governance and a clear story for investors.

    HNSPL helps

  2. Set valuation expectations

    A realistic range the market can support, discussed with your merchant banker.

    HNSPL helps

  3. Work with the merchant banker

    The merchant banker prepares the offer document and manages the issue. We liaise with the banker and the exchanges.

    HNSPL helps

  4. Issue and listing

    Investors subscribe and the shares list on the SME platform.

  5. Market making

    For at least three years after listing, we provide the liquidity SEBI requires.

    HNSPL provides

General outline for orientation only. HNSPL is not a merchant banker. Requirements differ by exchange and issue. Ask the SME desk about your own case.