BSE and BLL sign MoU to encourage SME listings
BSE and BLL will reach out to potential companies in order to spread awareness about the benefits of listing on the former's SME platform.
Bombay Stock Exchange (BSE) signed a Memorandum of Understanding (MoU) with Business Leadership League (BLL) today. This initiative is aimed at spreading awareness about the benefits of listing for Indian small and medium enterprises.
BLL will serve as a knowledge partner in this programme, according to a statement released by BSE.
Commenting on this development, Ajay Thakur, Head of BSE SME and Startups, said, “This MoU will allow us to tap the wide membership base of Business Leadership League and reach out to a larger number of SMEs across the country and offer them the benefits of listing. This MoU further aims to benefit SMEs by providing them with adequate knowledge and educating them on a wide range of topics that will prepare them to function efficiently in the SME ecosystem.”
Both BSE and BLL will reach out to potential companies through various sessions including online and offline programmes.
Swetapadma Mohanty, Founder and CEO of Business Leadership League, "Businesses need to explore their potential and getting access to the right source of funds is a very crucial part of this journey. This collaboration will give companies access to appropriate information and also the necessary support in taking the next leap."
In March 2012 and December 2018, BSE had launched SME and startup platforms to encourage companies falling in these categories to get listed. Today 350 SMEs are listed on the platform, which commands a market share of 61 percent.
The platform, which was launched to encourage equity culture within the SME sector, according to Ajay, has also helped in doing away with a lot of preconceived notions among small businesses, including the assumption that listing involves increased compliance levels and increased costs.
"Listing will help SMEs to increase their visibility as well as brand building; improve their credit rating; as well as provide easy finances and growth opportunities." he was quoted as saying.
Edited by Kanishk Singh