BSE Defers Listing Trafiksol Over Queries

New Delhi: BSE on Tuesday postponed the listing of SME company Trafiksol ITS Technologies Ltd, whose Initial Public Offering (IPO) was subscribed 345 times, after the stock exchange received certain queries about the firm.This is the first instance in recent times when an exchange has deferred the listing of an SME company post a successful completion of an IPO and comes in the backdrop of the markets regulator Sebi raising red-flag over unrealistic business projections by several Small and Medium Enterprises (SMEs).

The listing of Trafiksol ITS Technologies was originally scheduled for Tuesday on the BSE SME platform but the exchange has turned cautions and announced that the company’s debut will be postponed until all queries are satisfactorily resolved. “The listing of equity shares of Trafiksol ITS Technologies Limited for September 17, 2024, has been postponed till certain queries that have been raised are resolved by the issuer. Market participants are requested to please make note,” BSE said in a post on X (formerly Twitter).

Founded in 2018, the Noida-based company provides comprehensive solutions for Intelligent Transportation Systems and Automation, including software development, consultancy, and supply services.