Media Release
BSE and Government of Maharashtra Sign MoU to Promote SME Listing
Mumbai, February 8, 2024: BSE Limited, Asia’s oldest stock exchange, and Government of Maharashtra (GoMH) today signed a Memorandum of Understanding (MoU) on February 2024 to foster the growth, development, and progress of the Micro, Small, and Medium Enterprises (MSME) sector and MSME entrepreneurs by promoting the listing of SMEs on the BSE SME board.
The Government of Maharashtra is committed to advancing the interests of the MSME sector. BSE, recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956, brings its extensive experience and expertise to the collaboration.
Under the terms of the MoU, both parties have agreed to undertake collaborative programs and activities to sensitize the investor network about the advantages of listing for SMEs and startups. This includes guiding potential listed entities to attend capacity-building programs aimed at enhancing their understanding of the listing process and its benefits. As a part of MoU, BSE and GoMH will conduct collaborative programs and activities to raise awareness among investors about the benefits of SME and startup listing.
BSE will also assist MSMEs in connecting with intermediaries like merchant bankers, registrar, transfer agent, depositories and others. Under the MoU, BSE will also guide the MSMEs on anything regarding capital markets, capital raising mechanism and regulatory compliance and requirement. BSE will work with GoMH for educating the MSMEs through BSE products and platforms.
Shri Uday Samant, Hon’ble Minister (Industries), Govt of Maharashtra, said on the occasion of signing MoU with BSE Ltd, “We are pleased to partner with BSE, as this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state. The state has taken various initiatives to provide the required support for MSMEs to expand their operations and become inspiring examples for others to follow. As a part of the MoU, we shall jointly facilitate awareness campaign amongst the MSMEs to better understand the process, benefits of listing on the stock exchange.”
Commenting on the MOU, Sh. Sameer Patil, CBO, BSE said, “With this collaborative effort, we will be able to connect with a variety of state industry associations and SME representatives, raising awareness of the advantages of listings among SMEs in the state. It will also motivate an increasing number of SMEs to list on the exchange and raise equity capital. We are optimistic that this collaboration will assist state-based SMEs in listing on the BSE SME Platform, thereby fostering their expansion and creating jobs”.
About BSE
BSE (formerly Bombay Stock Exchange), which will celebrate its 150th year anniversary in July 2024, is Asia’s oldest and the world’s fastest Stock Exchange with a speed of 6 microseconds. India’s leading exchange group, BSE has been playing a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Media Contact
Santanu Chakraborty
022 2272 8516
Santanu.Chakraborty@bseindia.com