BSE SME today saw the listing of its 100th SME, becoming the first SME platform to capture a lion’s share in the Indian SME market. The accomplishment came with the listing of 5 SMEs today on the BSE SME platform which included Gala Print City Limited, M.D. Inducto Cast Limited, Loyal Equipments Private Limited, Jiya Eco Products Limited, all of which are based out of Gujarat; and Majestic Research Services & Solutions Limited which is based out of Karnataka.
As on date, BSE SME platform has helped the listed SMEs raise 755.78 crores from the capital markets. Out of the listed SMEs, 6 companies have successfully migrated onto the main board after completion of existing rules and regulations laid down by the exchange. The BSE SME Platform offers entrepreneurs and investors an environment, which enables the listing of SMEs from the unorganized sector scattered throughout India, into a regulated and organized sector.
Speaking on the occasion, Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI said, “SME companies represent entrepreneurial potential of India. They contribute to job creation and enhance opportunities for entrepreneurs. They also facilitate much more equitable distribution of wealth and spread of industry across the country. They also help in achieving Make in India. They are already contributing to 45% of the industrial output and 40% of exports. These companies now listing on the SME platform are willing to do periodic disclosures. Indian SME exchange has reached number of 100 SMEs faster than comparable international exchanges. IOSCO has also observed that the cost of listing on SME platform in India is the lowest in the world.
Chairman, BSE, Shri S Ramadorai added, “BSE SME platform has become an alternative engine for growth of SME companies by offering a great opportunity to entrepreneurs to raise equity capital for expansion and acquisition. The Micro, Small and Medium Enterprise (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. While many think that large companies dominate the industrial and GDP growth in our country, in reality, it is over 5.5 crore (55 million) small units classified under the SME umbrella which drive our economy through small manufacturing, trading and service business”
The Small and medium enterprises (SME) is a manifestation of India’s socio-economic development model and has met with the country’s long-term expectations in terms of contribution to GDP, industrial base, employment and exports. BSE very well understands the importance of Small and medium enterprises (SME) towards the growth of economy and in-order to strengthen them decided to launch SME Platform. BSE became the first Stock Exchange in India to get permission to launch SME Platform and also become the first Stock Exchange to launch SME Platform on 13th March, 2012. BCB Finance Ltd became the first company to get listed on SME Platform.
BSE Ltd has taken various steps for creating awareness among the entrepreneurs, intermediaries and Investors about the SME Platform by doing seminars with SEBI, FICCI, CII, IMC, D&B, ICAI and ICSI and many other Industrial Associations at state and central level. BSE SME Platform has become an engine of growth for SME companies by offering an opportunity to entrepreneurs to raise equity capital for expansion and acquisition.