Mumbai: BSE has signed a MoU with the Government of Uttar Pradesh to create awareness amongst SMEs of the state about benefits of listing. MoU was signed on 17th February, 2018. Through this MoU, Government of Uttar Pradesh will send advisory letters to all the Industrial associations and Ministry of Industries for having joint seminars along with BSE to create awareness among SMEs about benefits of listing. BSE will provide all intellectual and man power support in such awareness programs.
BSE, the oldest stock exchange in Asia has facilitated the growth of the Indian corporate sector over the past 142 years by providing it with an efficient capital raising platform. BSE very well understands the importance of Small and Medium enterprises towards the growth of economy and in order to strengthen them launched SME platform on March 13, 2012 and therefore became the first Stock Exchange to launch SME platform. Today BSE SME is the largest SME Platform in India having market share of 80 percent.
Ajay Thakur, Head of BSE SME platform said, “The awareness about the benefits of listing on SME exchange is very less. There has been a myth that only large companies can get listed. UP being the largest hub of SMEs will benefit immensely because of this MOU. This MOU will facilitate the SMEs of UP in coming on BSE SME Platform and raise funds which will further help them in unlocking their value, help in marketing and brand building. This will also help in creating strong balance sheet and increasing transparency in the company. Till now six companies from the state have got listed on BSE SME Platform. Seventh company Tasty Dairy Ltd is going to get listed on 21st February, 2018. Aanchal Ispat Ltd the company which got listed on BSESME Platform and migrated on main board has signed MOU with UP Government for an investment proposal of 125 crs”.