Published on 10/03/2017 11:08:44 AM | Source: Dion Global Solutions Ltd.
BSE eyes 200 listings on SME platform by June
BSE expects to have 200 companies listed by June on its SME platform, an exclusive platform it has launched for raising of funds by small and medium enterprises, reported PTI. So far, 165 companies have been listed on the BSE's SME platform with an aggregate market capitalisation of close to Rs 19,000 crore. These firms have raised over Rs 1,288 crore through their initial public offerings (IPOs). Of these, 24 have migrated to the BSE's main board.
Listing will help in wealth creation for the companies and their promoters, BSE's MD and CEO Ashishkumar Chauhan said. Many good companies from areas like manufacturing, metals, information technology and others are coming to list on the BSE's SME platform, he said. "We have got a very good response on SME as in the last five years. We have now got 165 companies listed and at the end of this month, 10 more companies will be listed and another 10 firms later. So, effectively we will have 200 companies listed by June on the BSE SME platform itself," BSE SME Head Ajay Thakur told reporters.
Listing will help these companies to enter capital markets and finally migrate to the main board platform. It will also help in providing easy access to capital, enhanced visibility, increasing brand building, growth opportunities and exit route for old shareholders, among other benefits. As per the norms, companies looking to list on the BSE's SME platform need to have post-issue paid up capital of a minimum Rs 3 crore. Besides, they need to have a net worth of at least Rs 3 crore to qualify for the listing. After meeting required norms, SMEs can seek migration to main board.