BSE gets SEBI approval for SME Exchange

By : |September 30, 2011 0

NEW DELHI, INDIA: The Securities and Exchange Board of India (SEBI) on Wednesday granted permission to the Bombay Stock Exchange (BSE) to launch the Small and Medium Enterprises (SME) Exchange.

“This is a great boost to BSE’s efforts in offering multiple asset classes to Indian investors. We are doing our bit to contribute towards the governmental agenda of greater financial inclusion and allowing promising enterprises of the future to access retail capital,” said BSE managing director and CEO Madhu Kannan.

He said the BSE is committed to delivering the best products, services, and asset classes to all its stakeholders and is looking forward to the success of the SME segment. The new exchange will be a facilitator in raising funds for SMEs.

In the last few months, BSE SME Exchange 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 the country. BSE SME has tied up with channel partners, who include various institutions and associations engaged in the development of SMEs. 
Also read: 10 Gujarat-based firms may list on SME Exchange

Additionally, BSE SME has planned for sectoral seminars for auto ancillaries, infrastructure, pharmaceuticals, manufacturing, agro-based industries, suppliers to OEMS and the like. It is also planning to take the SME cluster approach in the development of the SME segment.

So far, the exchange stated, BSE SME has received response from various sectors, including agro-based industry, manufacturing, textiles, IT and construction. A number of merchant bankers are also optimistic about the initiative, BSE added.

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