BSE Postpones Trafiksol ITS Technologies IPO Listing Amid Concerns

BSE has delayed the listing of Trafiksol ITS Technologies Ltd on the SME platform after the IPO was subscribed 345 times. The postponement follows concerns raised by the market regulator Sebi about unrealistic projections by SMEs. The listing is on hold until all queries are resolved.

The BSE has postponed the listing of SME company Trafiksol ITS Technologies Ltd following its highly subscribed IPO. Concerns raised by the stock exchange prompted the delay, as queries about the firm need to be addressed.

This marks the first recent instance of an exchange deferring an SME company's listing post-IPO completion. The decision follows Sebi's warnings about unrealistic business projections.

The company's expected debut on the BSE SME platform will remain on hold until all issues are clarified. Founded in 2018, Trafiksol ITS Technologies offers Intelligent Transportation Systems and automation solutions. Its nearly Rs 45 crore IPO witnessed an overwhelming response, being subscribed 345 times.

(With inputs from agencies.)