BSE partners with Goa govt to encourage listing among state MSMEs

Credit and finance for MSMEs: Stock exchange BSE has partnered with the Goa government to create awareness amongst SMEs in the state on the benefits of listing and also guide them on raising capital through equity infusion. Under the memorandum of understanding (MoU) signed between BSE and state government, the Department of Industries and Commerce, Goa will support in “mobilizing the SME representatives through the District Industries Centre as well as the state/regional associations/chambers encouraging their SME members to attend capacity-building programs organized by the Exchange,” the exchange said in a statement.

BSE said it is the largest SME Exchange in India with 410 companies with a market cap of Rs 64,520 crore listed so far. The exchange was set up in March 2012.

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Signing the memorandum on Friday, Sundararaman Ramamurthy, MD &CEO, BSE, said, “BSE SME Exchange was created with a vision and mission of addressing the unmet needs of thousands of SMEs in India. This association with the Government of Goa will play a significant role in opening a plethora of opportunities for SMEs.”

BSE said it will also provide training and capacity-building support to District Industries Centre officials. Moreover, a nodal person will be appointed for providing end-to-end solutions and facilitating SMEs with respect to registration or listing on the platform. Also, joint seminars will be conducted by both parties to educate the SMEs on listing. BSE in tie-up with various industry associations will conduct at least 10 awareness generation or capacity-building meets and follow-ups for SMEs in a span of a year.

Also read: Listed SMEs have better profitability ratios, higher return on assets but lower liquidity: RBI paper

P. Pravimal Abhishek, IAS MD and Director of Goa Industrial Development Corporation, said, “In line with the vision of the Prime Minister, Govt. of Goa is committed to providing maximum support to MSMEs. The MoU with BSE is a step in that direction to enable MSMEs to access capital markets and raise equity funds. I’m confident that this will bring vibrancy to the MSME sector and generate employment.” 

BSE had earlier also entered into similar partnerships with multiple state governments viz., Maharashtra, Chhattisgarh, Tamil Nadu, etc., to promote listings among local SMEs. 

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