September 7, 2018
Bangla Govt ties up with BSE & NSE to help MSMEs tap capital market
The Bangla Government’s Micro, Small and Medium Enterprises & Textiles Department has signed pacts with Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) to raise awareness among the State’s micro, small and medium enterprises (MSME) about the benefits of tapping the capital market an alternate source of funding.
It may be mentioned that till now, 18 companies from the State have been listed on the BSE SME platform. The number is expected to go up by another 10 to 15 in the next six months. SME listing provides higher visibility at the national level. The SME platform of NSE, called NSE Emerge, currently has six companies from the State listed on it, with total fund raising of about Rs 44 crore.
The recently-signed agreements are part of the government’s plans to expand the funds base of the State’s MSMEs by fully utilising the potential of the resources of the capital market.
The MSME & Textiles Department, in collaboration with chambers of commerce and industries, business associations and BSE, will take up hand-holding workshops and seminars to create awareness. Thus, the BSE will provide intellectual and manpower support for listing of more MSMEs on the BSE SME platform.
Using the agreement signed with NSE, the State Government is planning to get 100 SMEs listed on the NSE Emerge platform by 2020.
Bank credit to MSMEs in the last seven years is estimated at Rs 1.74 lakh crore, according to the MSME and Textiles Department of the Bangla Government. The State has the highest number of micro, small and medium enterprises in the country – 52.7 lakh in 2016-17, employing about 1.1 crore people.
Sources: Millennium Post