The Bombay Stock Exchange (BSE) has partnered with the Tamil Nadu government to raise awareness about the benefits of listing among the state’s micro, small, and medium enterprises (MSMEs).
BSE will collaborate with the MSME Trade and Investment Promotion Bureau (M-TIPB) to make this possible. BSE would provide capacity building and soft support to small and medium enterprises (SMEs) in Tamil Nadu to meet listing standards as part of the agreement.
Furthermore, the BSE would provide all intellectual and workforce support necessary to raise awareness of the benefits of listing among SMEs in Tamil Nadu.
Meanwhile, M-TIPB will assist in mobilizing SME representatives through district industries centers and state or regional associations in encouraging their SME members to participate in capacity development programs.
“Through M-TIPB’s deep reach and network, we aim to further increase awareness amongst MSMEs about the benefits of listing. The BSE will also appoint a nodal person as single point contact in Tamil Nadu for providing end-to-end solution and facilitating SMEs with respect to registration/ listing on the platform,” Ajay Thakur, head (BSE SME and Start-up), said.
The BSE, according to Sakthivel S, general manager of M-TIPB, has played a significant role in the development of Indian capital markets. By listing on the BSE SME platform, Tamil Nadu SMEs would raise funds through initial public offerings (IPOs).
The BSE was the country’s first stock exchange to introduce an SME platform. In March of 2012, the SME platform began its journey. Since then, the BSE SME platform has seen over 363 companies listed, raising over 4,000 crores.