Top News:

Likely to see more firms listing on stock exchanges after GST rollout: BSE MD & CEO Ashish Kumar Chauhan

The country’s stock exchanges are expected to see a surge in the listing of the companies after the rollout of the Goods and Services Tax (GST), and the number of companies listed on the BSE may nearly doubled following the biggest reform in the indirect tax structure due to higher profitability of the smaller firms, according to BSE’s MD & CEO Ashish Kumar Chauhan.

By: | Kolkata | Published: September 23, 2016 9:47 PM

 

Speaking at a programme of MCC Chamber of Commerce & Industry on Friday, BSE MD & CEO Ashish Kumar Chauhan said after the GST rollout number of companies listed on the BSE may increase up to 10,000 from the current 5500.(PTI)

Speaking at a programme of MCC Chamber of Commerce & Industry on Friday, BSE MD & CEO Ashish Kumar Chauhan said after the GST rollout number of companies listed on the BSE may increase up to 10,000 from the current 5500.(PTI)

The country’s stock exchanges are expected to see a surge in the listing of the companies after the rollout of the Goods and Services Tax (GST), and the number of companies listed on the BSE may nearly doubled following the biggest reform in the indirect tax structure due to higher profitability of the smaller firms, according to BSE’s MD & CEO Ashish Kumar Chauhan.

Speaking at a programme of MCC Chamber of Commerce & Industry on Friday, BSE MD & CEO Ashish Kumar Chauhan said after the GST rollout number of companies listed on the BSE may increase up to 10,000 from the current 5500.

“The uniform tax structure under GST will allow young companies to grow at a faster rate. The small companies, which have not grown earlier, will grow now. The new indirect tax structure will reduce costs for the small companies and their profitability is expected to go up. And they will get interested in listing on bourses to tap capital markets,” he explained.

Chuhan said raising funds through corporate bonds by private sector players have suddenly increased as banks have become very cautious on lending to large corporates on the back of huge rise in bad loans in the banking sector.

“We had been talking about corporate bond market not doing well in our country. Suddenly, we see that corporate bonds are doing well in the capital market. We have recently launched BSE-BOND platform. Over Rs. 40,000 crore has been raised through corporate bonds in the last 45 days,” he said.

The country’s top exchanges BSE and NSE launched electronic book mechanism platforms for issuance of debt securities on private placement basis in the month of July.

Please Wait while comments are loading...

Go to Top