60 more businesses to be listed on BSE's SME platform, says BSE MD and CEO
So far, 312 companies have been listed on the BSE SME platform and have collectively raised around Rs 3,200 crore, said Ashishkumar Chauhan, BSE MD and CEO.
As many as 60 companies are in pipeline to be listed on the BSE's platform for small and medium-sized enterprises (SMEs), said Ashishkumar Chauhan, MD and CEO, BSE.
So far, 312 companies have been listed on the BSE SME platform and have collectively raised around Rs 3,200 crore, Chauhan added.
While emphasising on the role of listing, he said listing turns income into wealth and noted that the firms listed on the BSE SME account for a total market capitalisation of Rs 18,000 crore.
He mentioned that listing has a host of benefits that include branding, improved credit rating and easy finances among others.
BSE launched its SME platform for small and medium enterprises in March 2012. Of the 312 companies listed on the platform, as many as 71 have migrated to the main board.
The firms listed on the platform belong to a wide range of sectors like infrastructure, pharmaceuticals, hospitality among others.
Chauhan while speaking at an event here said India's economy projected to grow at six percent is still better when compared to other economies in the world and mentioned that demand is likely to revive post Diwali.
He said Indian economy is in a transformational phase where people are moving from the era of "non payment of bank loans" to an era of "payment of bank loans" and that Insolvency and Bankruptcy Code has played a positive role.
Tracking the global trends he said the US is "seriously trying to rebalance its trade with the rest of the world."
Chauhan's statement comes just two days after BSE came out with a new framework for companies seeking to migrate from its SME platform to the main board.
Under the new guidelines, companies listed on SME exchange need to have a market capitalisation of at least Rs 25 crore in order to move up to the main board, BSE said in a circular.
Explaining further, BSE said that the market capitalisation on Weighted Average Price (WAP) of preceding 20 traded days from the date of submission of application to the bourse for migration from SME platform to the main board should be equal to or in excess of Rs 25 crore.
