Marked by a well-attended bell-ringing ceremony, BSE Ltd. today launched operations of its SME Exchange platform with the first listing ceremony of BCB Finance Ltd., in the presence of Shri R K Mathur, Secretary, MSME, GoI. Shri Rajeev Agarwal, Whole Time Member, SEBI, and Shri C S Mohapatra, Adviser (FSDC), DEA, MoF.
Last September SEBI had granted permission to BSE to launch SME Exchange to offer a platform to small and medium companies to raise capital.
BSE SME platform has been developed after studying the salient features, best practices and the business model of similar global existing Exchanges. The listing norms have been extremely simplified and made convenient for SMEs compared to listing norms on the main board.
In the past few months, BSE SME has conducted several Seminars for educating the SMEs on the benefits of listing and the preparations required for listing on the BSE SME Platform across India. BSE SME has tied up with channel partners who include various institutions and associations engaged in the development of SMEs.
Speaking at the ceremony, Shri R K Mathur, Secretary, MSME, GoI., said, “MSME department has been looking forward to this platform. Great efforts have been put in by BSE and we deeply appreciate the same. SEBI has also been supportive throughout. I heartily congratulate BCB Finance Ltd. to be the first company to get listed on BSE SME Platform. We are committed to do our bit to make this initiative a success.”
Shri Rajeev Agarwal, Whole Time Member, SEBI, said, “This launch will play important role in Indian SMEs growth. As a regulator, several regulations have been eased, at the same time, robust surveillance mechanism has been put in place. Investor protection will remain prime important. My heartiest congratulations to BSE and BCB Finance Ltd. for this ambitious initiative.”
Shri Madhu Kannan, MD&CEO, BSE, added, “This is a significant event in the history of BSE. I am extremely delighted to actually see this happening. SMEs are building blocks of the economy and the capital markets have great potential to tap opportunities and help this sector grow. BSE SME platform will be a committed partner to MSMEs to transform ideas into big companies. We are grateful to the support received from the GoI and SEBI.”
Shri C S Mohapatra, Adviser (FSDC), DEA, MoF, who was also present at the ceremony stated, “I am pleased to be present at this historic place on a historic moment like today’s. This is a big contribution to the country where SMEs play a crucial role but face difficulties in raising capital for their potential businesses. BSE has helped SMEs to expand through this platform. This is an effective way to improve financial inclusion.”
For more info log onto: www.bsesme.com