National Stock Exchange and Government of Maharashtra sign MoU to facilitate fund raising for SMEs in the State
National Stock Exchange and Government of Maharashtra sign MoU to facilitate fund raising for SMEs in the State
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NSE, Maharashtra govt sign MoU to boost fund raising for SMEs
424 companies from various sectors are listed on NSE Emerge platform and have collectively raised over Rs 8,836 crore.
The National Stock Exchange (NSE) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to spread awareness amongst MSMEs of the state regarding fund raising via IPO mechanism using former’s SME platform NSE Emerge, said the exchange in a press release.
MoU was signed between Shri Jayesh Taori, Associate Vice President, National Stock Exchange, and Shri Deependra Singh Kushwah, Development Commissioner, Industries, Government of Maharashtra in the presence of Shri Uday Samant, Minister of Industries, Government of Maharashtra.
As part of the understanding, NSE with the support of the Government of Maharashtra, shall conduct awareness drive through seminars, MSME camps, knowledge sessions, road shows, workshops to guide corporates across the state for fund raising on the NSE Emerge platform and handhold companies in the listing process," reads the press release.
Shri Sriram Krishnan, Chief Business Development Officer, NSE said, “Today, Government of Maharashtra and National Stock Exchange have entered in a MoU to collaborate and support the growth of MSMEs via NSE Emerge platform for state MSMEs. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange. We shall organize awareness sessions for MSMEs of the state in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the MSMEs in the state to come forward and avail the new source of financing through NSE Emerge.”
Shri Uday Samant, Honorable Minister of Industries, Government of Maharashtra said, “Under the leadership of Honorable Chief Minister of Maharashtra Shri Eknath Shinde we have been focusing on providing a conducive environment for the MSMEs of our state to propel their growth. Today, in order to further strengthen our efforts in supporting MSMEs, we have signed a MOU with the National Stock Exchange to encourage state MSMEs to tap capital markets via the NSE Emerge platform. NSE Emerge provides an alternate source of investment raising opportunity for growing SMEs by providing access to public capital along with gaining desired visibility and credibility. As a part of the MOU, we shall jointly facilitate awareness campaigns amongst the MSMEs to better understand the process, benefits and nuances of listing on the stock exchange.”
As on today, 424 companies from various sectors are listed on NSE Emerge platform and have collectively raised over Rs 8,836 crore. The market capitalisation of these companies has recently crossed a significant milestone of Rs 1,00,000 crore.
Updated on: 06/03/2024
