Electronics maker Virtuoso Optoelectronics lists on BSE SME; 391st company on SME exchange | The Financial Express

Electronics maker Virtuoso Optoelectronics lists on BSE SME; 391st company on SME exchange

Credit and Finance for MSMEs: The company completed its public issue on September 07, 2022.

Electronics maker Virtuoso Optoelectronics lists on BSE SME; 391st company on SME exchange
According to the BSE SME data, 151 companies have so far migrated to the main board from the SME platform.

Credit and Finance for MSMEs: Electronics design and manufacturing enterprise Virtuoso Optoelectronics was the latest company to list on the BSE SME exchange on Thursday. The 391st company to list on the small business listing platform, Virtuoso Optoelectronics launched its initial public offering of 54 lakh equity shares of Rs 10 each for cash at a price of Rs 56 per equity share, aggregating to Rs 30.24 crore. The company completed its public issue on September 07, 2022, BSE said in a statement. Mumbai-based advisory firm Fedex Securities was the lead manager for Virtuoso Optoelectronics.

Based in Nashik, the company manufactures electrical and electronic devices, lighting, etc. Its consumer goods portfolio includes split air conditioners, water heaters, LED lighting products, injection moulding components for air conditioners, etc. Virtuoso Optoelectronics operates on both original equipment manufacturer (OEM) and original design manufacturer (ODM) business models. Under the ODM model, the company conceptualize and design the products which are then marketed to its customers’ prospective customers under their brands.

Subscribe to Financial Express SME newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises 

According to the BSE SME data, 151 companies have so far migrated to the main board from the SME platform while 391 companies have been listed on BSE SME so far. The amount raised by listed companies from the market, at the time of filing this report, stood at Rs 4,216.18 crore and the total market capitalization of 391 SMEs was Rs 60,934 crore. On the oher hand, 32 companies were suspended so far from the platform. BSE said it is the market leader in the SME listing segment with a market share of 61 per cent.

Markets regulator Securities and Exchange Board of India (SEBI) in May 2010 had announced guidelines to launch the BSE SME platform. Launched in March 2012, BSE became the first stock exchange in the country to get SEBI’s approval for an SME platform. The platform completed its 10 years of operations earlier this year and saw 10 listings during the first quarter of FY23.

Also read: Govt integrates Udyam portal with jobs portal National Career Service for access to manpower data

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.