Home Listing rules The BSE SME platform crosses the milestone of 400 listed companies

The BSE SME platform crosses the milestone of 400 listed companies

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Mumbai: Union Trade and Industry Minister Shri Piyush Goyal today attended the celebration of the 400th company listing on the ESB SME Platform in Mumbai. With the listing of eight new companies on the stock exchange’s SME platform today, the BSE SME platform has passed the milestone of 400 listed companies. Union Minister Piyush Goyal rang the ceremonial bell today to mark the special occasion.

BSE Ltd set up the BSE SME Platform in March 2012 in accordance with the rules and regulations set by SEBI. BSE SME Platform provides a user-friendly environment for entrepreneurs and investors which enables the registration of unorganized sector SMEs scattered across India in a regulated and organized sector.

The SMEs listed cross the threshold of the BSE SME platform and make an incursion into the world of finance to continue their growth and development. BSE SME assists such SMEs to raise equity capital for their growth and expansion and thus helps them to become fully-fledged enterprises and in due course enable them to migrate to the Main Board of BSE in accordance with applicable rules and regulations .

The Union Trade and Industry Minister said, “400 companies is a milestone for the ESB SME Platform”. “BSE SME could also become a stepping stone for companies to access the main exchange,” he added. Stating that the ESB SME platform has huge potential, he urged the exchange to spread awareness of this ecosystem across the world. “We need to market it better, we also need to educate international investors; international funds also need to know about this exchange”.

He suggested that the Bombay Stock Exchange could send either a representative of the stock exchange or companies listed on the stock exchange to be part of industry delegations in foreign countries, so that more international investors can participate in the activities of the stock exchange. stock Exchange.

He said SMEs are an integral part of India’s growth story and more collaboration and participation will accelerate the growth of this BSE SME exchange. In this context, the Minister also said: “We have over 100 unicorns, many unicorns are on their way to becoming unicorns, the Ministry of Trade and Industry could help forge a partnership between BSE and the startup ecosystem. It will be good for both, helping startups grow faster and helping ESB expand the platform.”

Speaking about the huge potential of this exchange, the Minister of Trade and Industry also said, “Mumbai is the place from where we hope the SME sector will take on new wings, raise more capital and become truly an international center for more SMEs to develop their faster growth.” He also suggested that “the BSE SME platform can consider establishing a platform at GIFT City”.

The Union Minister also urged ESB to interface with the startup ecosystem. This will help them grow faster and encourage domestic capital into startups. “Indian investors are able to keep the Indian market strong. This demonstrated the culture of equity and that the ability of Indian investors to take risks has increased”. The ESB could also offer business technology services that could add sparkle to SME exchange, he added.

Speaking about India’s growth story, he said, nowhere in the world do we have the opportunity of the size and scale that India offers today. “In the future, India will lead in global growth. The world is excited and optimistic about India’s growth story. They look at us with confidence, hope and commitment. Even at the usual pace, India will be a $30-32 trillion economy when we celebrate 100 years of independence.” Markets showed great confidence in India’s growth story, he added.

The Minister also outlined the requirements for an environment conducive to growth. He understands:

Greater engagement with technology

Reduce the burden of compliance

Decriminalization of laws

Promote innovation

Improved logistics infrastructure

Free trade agreements

The minister also mentioned that the government is aiming for an orderly recovery from the pandemic and that the industry has shown tremendous resilience. “We reasonably handled the current geopolitical situation in light of the Russian-Ukrainian conflict.”

Representatives of the eight companies listed today, traders, investors and industry representatives were present on the occasion. Jaipur City MP Ramcharan Bohra, BSE Chairman SS Mundra and Head of BSE SME and Startup Platform Ajay Thakur were also present.

So far, 152 companies have migrated to the main board. The 394 companies listed on BSE’s SME platform have raised Rs.4,263.00 crore from the market and the total market capitalization of 394 companies as of October 07, 2022 is Rs. 60,000 crore. BSE is the market leader in this segment with a market share of 60%.