BSE signed MoU with the Goa government, which aimed to advance the progression of small-scale medium enterprises by listing their shares and thereby obtaining the amount of capital market that is needed for the expansion and development of the business.
BSE partnered with the Goa government to Create awareness amongst SMEs
Stock exchange BSE partners with the Goa government to create awareness amongst SMEs statewide on the benefits of listing and directs them to raise capital through equity infusion.
Owing to the memorandum of understanding MoU signed between BSE and the state government, “the Department of Industries and Commerce, Goa government will corroborate in mobilizing the SME representatives through the District Industries Centre and giving the platform to state/regional associations/chambers to encourage their respective SME members to attend capacity-building programs organized by the Exchange,” the exchange reported.
In addition, the BSE started the BSE’s SME exchange as the largest exchange in India, including 410 companies with a market cap of Rs 64,520 crore listed till this date as the exchange was established in March 2012.
While signing the Memorandum of association on Friday, Sundara Raman Ramamurthy, MD & CEO of BSE said, “BSE SME Exchange was launched with the intent of creating a vision and mission to detect and address the unmet needs of lakhs of SMEs in India thus will resultant in founding a profusion of opportunities for SMEs”.
Through the initiative of being associated with the Goa government, providing training and capacity-building support to District Industries Centre officials will alleviate and elate the small-scale medium entrepreneurs to attain their preset targets.
Subjective to proficiently managing the grievance redressal process, BSE will appoint a nodal person for providing end-to-end solutions, facilitate SMEs to list on the BSE stock exchanges, and tackle problems related to registration and other transactional processes.
Bombay Stock Exchange and the Goa government take a firm stand on conducting seminars to educate the SMEs about stock market operations while assisting in attaining net profit growth. BSE ties up with different industry associations and thereby conducts at most minuscule 10 awareness generation meets or capacity-building gatherings for the sale of SMEs in a year.
Mr. Pravimal Abhishek, Assistant MD, and Director of Goa Industrial Development Corporation said,
“In line with the vision of the Prime Minister, the Government of Goa is committed to providing the utmost support to MSMEs enabling them to raise capital market and equity funds through the means of listing their stocks on the BSE stock exchange. I guarantee that the initiative will bring vibrancy to the MSMEs sector by helping them to yield maximum profits and also serve as a ladder to generating wide employment in the country“.
Earlier, BSE collaborated with multiple state governments such as Maharashtra, Chhattisgarh, Tamil Nadu, etc.., to encourage SMEs to take part in listing their stocks among local SMEs on the Bombay stock exchange BSE.