ESC will evaluate eligible SMEs and startups among its over 2,300 members comprising of ICT exporters in areas including consumer electronics, components, computer hardware, IT-enabled Services, etc. for listing on BSE SME exchange as per the MoU.
BSE on Tuesday signed a memorandum of understanding (MoU) with the trade promotion organization Electronics and Computer Software Export Promotion Council (ESC) to encourage listing of small and medium enterprises (SMEs) and startups in the information and communications technology (ICT) space. ESC will evaluate eligible SMEs and startups among its over 2,300 members comprising of ICT exporters in areas including consumer electronics, components, computer hardware, IT-enabled Services etc. for listing on BSE SME and BSE Startups exchange as per the MoU. It would also help sensitise its investor network for investing in listed SMEs.
“This MoU will help us in reaching out to ESC’s pan India network of Electronics and IT exporters and create greater awareness amongst the SMEs & Startups about benefits of listing on the BSE SME & Startup platform. Considering the economic impact of the Covid-19 pandemic, it will further encourage more and more SMEs & Startups to list and raise equity capital on the exchange to expand and grow their business,” said Ajay Thakur, Head-BSE SME & Startup in a statement.
Moreover, as per the MoU, BSE and ESC will organize roadshows and events across India to promote listing among SMEs and startups. “SMEs, especially the IT SMEs are now exposed to greater opportunities than ever for expansion and diversification across the sectors…Despite its commendable contribution to the Nation’s Economy, SMEs sector does not get the required support and still face a number of problems with inadequate credit, limited capital, and knowledge being on the top,” said Sandeep Narula, Chairman, ESC in a statement.
BSE had last month also partnered with business-to-business data provider Dun & Bradstreet Information Services India to help SMEs and startups list on BSE SME and Startups platforms. SMEs and startups will get access to D&B’s solutions to build their credibility both domestically and globally, find and access potential buyers and business partners, and get customized training and certification programmes to help better navigate through business challenges. D&B will also share its SME database and clients with BSE for latter to create awareness among SMEs and startups about the benefits of listing.
The exchange had also brought down its annual listing fee on the BSE SME platform by 25 per cent earlier last month for listed and upcoming firms on the platform. So far, 337 companies have been listed on the SME platform and raised Rs 3,497.52 crore. 99 companies of which have migrated to BSE Main Board.