Few Gujarat firms on SME exchange list

AHMEDABAD, INDIA: A very small number of companies from Gujarat have figured on the SME Exchange list, despite the state being home to almost 15 per cent of India's total SME units.

The minister of state for industries Saurabh Patel said that of a priority list of 860 companies, as low as 47 enterprises from the state have been included on the list. Earlier, the Securities and Exchange Board of India (SEBI) has approved setting up of a separate platform for the SMEs in the country to help them raise funds.

Also read: 10 Gujarat-based firms may list on SME Exchange

Talking on the sidelines of seminar on 'SME Exchange: A platform for Equity Finance for Small & Medium Enterprises', Patel said Gujarat companies will have to face difficulties in the listing process as of the 15 merchant bankers approved by the SME exchange authority, not a single is based in Gujarat.