BSE signs MoU with Maharashtra govt to encourage SME listing

Leading stock exchange BSE on Tuesday said it has joined hands with the Maharashtra government to create awareness about benefits of listing among small and medium enterprises (SMEs) of the state.

In this regard, BSE has signed a memorandum of understanding (MoU) with the government of Maharashtra, the exchange said in a statement.

Through this pact, the exchange will provide intellectual and manpower support to create awareness about the benefits of listing among SMEs and will enable capacity building to such enterprises to fulfil listing requirements.

Besides, BSE will provide training and capacity building support to District Industries Centre officials.

Under the MoU, the Maharashtra government will help in mobilizing the SME representatives and state and regional associations to encourage their SME members to attend capacity building programmes.

In addition, the government will also reach out to industrial associations in the state for conducting joint seminars with BSE to create awareness among SMEs about benefits of listing.

This MoU will help the micro, small and medium industries in the state to get registered in the capital market and raise capital from the public capital market. BSE will also provide technical support to all the MSME industries in Maharashtra, Subhash Desai , Minister for Industries & Mining in Maharashtra government, said.

Ajay Thakur, Head-BSE SME and Startups said, "Through this collaborative effort, we will be able to reach out to various SME representatives and industry associations of the state and create greater awareness about the benefits of listings among SMEs of the state. It will further encourage more and more SMEs to list and raise equity capital on the exchange.” BSE had launched its SME platform in March, 2012. So far 331 companies got listed on the platform by raising Rs 3,381 crore and the market capitalization of these companies collectively stood at a little over Rs 21,566 crore.

Out of 331 companies, 95 have migrated to main board.

Image Credits: PTI