BSE inks MoU with ICCI to support SMEs, startups in listing

Stock exchange BSE on Saturday said it has signed an agreement with Inventivepreneur Chamber of Commerce and Industries (ICCI) to support small and medium enterprises (SMEs) and startups, and promote their listing on the exchange.

Through this association, ICCI will offer assistance in evaluating SMEs and startups for listing on BSE SME board, BSE said in a statement.

Besides, it will also sensitise the investor network about listed SMEs and startups.

ICCI will offer industry connections to respective BSE startups globally and support entrepreneurship nationwide through knowledge transmission on government announced programs, acceleration fund, international presence and global business relations, it said.

To make this a real success, ICCI will conduct various networking activities, awareness camps, interactive sessions and business events.

"As India's leading stock exchange, it's our responsibility to support the government's nation-building exercise," BSE SME and Startups Head Ajaykumar Thakur said.

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"Through ICCI, we believe more startups and SMEs will get adequate exposure on the benefits of listing on an exchange and will be able to comprehend the functioning of the capital market in a better way," Thakur added.

Recently, BSE tied up with Telangana government and SME networking portal GlobalLinker to help MSMEs in raising equity funds.

The BSE and the commerce and industries department of Telangana, along with GlobalLinker, have signed a memorandum of understanding in this regard, the exchange said in a statement.

The partnership with the BSE will help in addressing a vital challenge of access to finance and increasing credibility of the MSMEs, it said.

As part of the association, the BSE will provide intellectual and manpower support to create awareness about the importance and benefits of listing.

The exchange said lack of awareness around this subject has led to a lot of pre-conceived notions that listing involves increased compliance levels, increased costs and more.

"We are pleased to partner with the BSE, as this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state," said Telangana Principal Secretary Jayesh Ranjan.

(Disclaimer: Additional background information has been added to this PTI copy for context)