National Stock Exchange and Government of West Bengal sign MoU to facilitate fund raising for SMEs in the State
and Government of West Bengal sign MoU to facilitate fund raising for SMEs in the State
The Economic Times
NSE, West Bengal government sign MoU to facilitate fundraising for SMEs in the State
In a significant development, the National Stock Exchange (NSE) has forged a strategic partnership with the Government of West Bengal, signing a Memorandum of Understanding (MoU) on Wednesday.
In collaboration with the Government, the NSE aims to raise awareness among MSMEs about fundraising through IPOs on the NSE Emerge SME platform.
MOU was exchanged between Debashish Bandhyapadhyay, Special Secretary, MSME & Textiles, Government of West Bengal and National Stock Exchange, Mumbai, at Kolkata in the presence of Dr H K Dwivedi, Chief Secretary, Government of West Bengal & Shri Rajesh Pandey, Principal Secretary, MSME & Textiles, Government of West Bengal.
Sriram Krishnan, Chief Business Development Officer represented NSE for the exchange of MOU.
The initiative includes seminars, MSME camps, knowledge sessions, road shows, and workshops to guide and support state corporates in the fundraising and listing process on NSE Emerge.
Rajesh Pandey emphasising the state's commitment to fostering MSME growth said, “This shall provide an opportunity to showcase their business to a larger set of investors through NSE Emerge platform. As a part of the MOU, we shall facilitate and jointly conduct awareness sessions for the MSMEs to help them understand the process of fundraising and the benefits of listing on the stock exchange.Sriram Krishnan echoed the sentiment, emphasising the role of NSE Emerge in facilitating SMEs to raise capital efficiently. “NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange. We shall organise 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,” he said.
As on today, NSE’s SME Emerge platform, currently has 396 companies from various sectors listed. Total funds raised on the platform till date is over INR 7,800 Cr. The market capitalisation of these companies has crossed 94,000 Cr. The platform has 16 companies listed from West Bengal on the SME Emerge platform and have collectively raised INR 224.43 cr.
Updated on: 07/12/2023
