Credit and finance for MSMEs: Advertising agency Daps Advertising was the latest company to list on the BSE SME platform on Monday, becoming the 406th company to get listed on the SME exchange. The company had come out with an initial public offering (IPO) of 17,00,000 equity shares of Rs 10 each for cash at a price of Rs 30 per equity share, aggregating to Rs 5.10 crore, according to the draft prospectus. The company successfully completed its public issue on November 03, 2022. Mumbai-based Shreni Shares Private Limited was the lead manager of Daps Advertising, BSE said in a statement.
Kanpur-based Daps Advertising offers advertising media services including print media, electronic media and outdoor media services that cover advertisement modes such as newspapers, brochures, magazines, television channels, FM channels, and display of outdoor hoardings etc. Its customers include corporate clients operating in construction, education, electronics, automobiles, FMCG, jewellery, apparel, insurance, housing, hospital, financial service providers, and aviation along with government organizations etc.
Subscribe to Financial Express SME newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises
As of November 14, 153 companies have migrated to the main board of BSE out of 406 companies listed on the BSE SME platform since the latter’s launch in March 2012 while 25 have been suspended. The total amount raised by the companies so far stood at Rs 4,479 crore from the market while the total market capitalization of 406 companies was Rs 63,138 crore.
BSE SME had hit the 400 listings milestone in October this year. Attending the listing celebration, Commerce Minister Piyush Goyal urged the BSE SME exchange to get its ecosystem known across the world. “We need to market it better, also need to sensitize international investors; the international funds too need to get to know about this exchange.” The minister had also suggested that BSE could send either some representative from the exchange or some companies listed on the exchange to be a part of industry delegations to foreign countries so that more international investors partake in the activities of the exchange.