India's top stock exchange signs MoU with UP Govt to facilitate fundraising for SMEs
UP Govt and NSE sign MoU to boost MSME fundraising through IPOs and NSE Emerge. Joint efforts will include workshops and seminars across the state.
New Delhi: The Government of Uttar Pradesh and the National Stock Exchange (NSE), India's top stock exchange, have inked a Memorandum of Understanding (MoU) to educate the state's MSMEs about the IPO process and how to use NSE Emerge, the NSE's SME platform.
The understanding states that NSE, with the help of the Uttar Pradesh government, will hold awareness campaigns through workshops, road shows, MSME camps, seminars, and knowledge sessions to assist companies in the listing process and to guide corporates throughout the state in raising funds on the NSE Emerge platform.
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Shri Raj Kamal, IAS, Managing Director of Industries, UPSIC, said: “Under the leadership of Honourable Chief Minister of Uttar Pradesh, Shri Yogi Adityanath and under the guidance of Minister of Industries, Govt of Uttar Pradesh, Shri Rakesh Sachan, we have been striving to provide a conducive ecosystem for the MSMEs of our state to further grow their businesses and create attractive business model which attracts investment opportunities globally.
Today, a step to propel this growth story, we have signed an MOU with the National Stock Exchange to encourage MSMEs from the state of Uttar Pradesh to tap capital markets via the NSE Emerge platform and raise funds via IPO.NSE Emerge as a platform provides an alternate source of investment raising opportunities for growing SMEs.
The NSE Emerge platform provides MSMEs to access public capital along with an opportunity for enhanced visibility and credibility. As a part of the MOU, Government of Uttar Pradesh and NSE shall jointly conduct awareness sessions and campaigns amongst the MSMEs to better understand the process of listing on the stock exchange and its related benefits.”
Read Also : RBI Imposed penalty on Indian Bank Currency Chest, GuwahatiShri Sriram Krishnan, Chief Business Development Officer, NSE said: “Today, Government of Uttar Pradesh 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 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.”
Till date, 612 companies from various sectors are listed on NSE Emerge platform and have collectively raised over INR 17,003 Crs. The total market capitalisation of these companies is approximately INR 1,76,565 Crs.
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