BSE on Tuesday signed a memorandum of understanding (MoU) with the trade promotion organization Electronics and Computer Software Export Promotion Council (ESC) to encourage listing of compact and medium enterprises (SMEs) and startups in the details and communications technologies (ICT) space. ESC will evaluate eligible SMEs and startups amongst its more than 2,300 members comprising of ICT exporters in places such as customer electronics, elements, laptop hardware, IT-enabled Services and so forth. for listing on BSE SME and BSE Startups exchange as per the MoU. It would also aid sensitise its investor network for investing in listed SMEs.
“This MoU will help us in reaching out to ESC’s pan India network of Electronics and IT exporters and create greater awareness amongst the SMEs & Startups about benefits of listing on the BSE SME & Startup platform. Considering the economic impact of the Covid-19 pandemic, it will further encourage more and more SMEs & Startups to list and raise equity capital on the exchange to expand and grow their business,” mentioned Ajay Thakur, Head-BSE SME & Startup in a statement.
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Moreover, as per the MoU, BSE and ESC will organize roadshows and events across India to market listing amongst SMEs and startups. “SMEs, especially the IT SMEs are now exposed to greater opportunities than ever for expansion and diversification across the sectors…Despite its commendable contribution to the Nation’s Economy, SMEs sector does not get the required support and still face a number of problems with inadequate credit, limited capital, and knowledge being on the top,” mentioned Sandeep Narula, Chairman, ESC in a statement.
BSE had last month also partnered with enterprise-to-enterprise information provider Dun & Bradstreet Information Services India to aid SMEs and startups list on BSE SME and Startups platforms. SMEs and startups will get access to D&B’s options to create their credibility each domestically and globally, discover and access prospective purchasers and enterprise partners, and get customized instruction and certification programmes to aid improved navigate by means of enterprise challenges. D&B will also share its SME database and consumers with BSE for latter to develop awareness amongst SMEs and startups about the rewards of listing.
The exchange had also brought down its annual listing charge on the BSE SME platform by 25 per cent earlier last month for listed and upcoming firms on the platform. So far, 337 firms have been listed on the SME platform and raised Rs 3,497.52 crore. 99 firms of which have migrated to BSE Main Board.