other segments or cash payment.
Such incentives can't exceed 25 per cent of net profits or 25 per cent of the free reserves of the stock exchange, whichever is higher, as per financial statements of the preceding fiscal year, Sebi said.
Besides the incentives may also be provided through shares, including options and warrants, of the stock exchange.
These shares can't exceed 25 per cent of the issued and outstanding shares of the stock exchange as on the last day of the preceding financial year, as per the regulator.
Bourses are required to submit half-yearly reports on the working of its LES for review by Sebi.
Sebi noted that the schemes would not be applicable to securities listed on SME platform or SME Exchange.