BSE signs MoU with HDFC Bank to promote listing of Start-ups and SMEs
cityairnews
Nov 2, 2021 05:15
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Mumbai, November 2, 2021: BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, today signed a MoU with one of India’s largest private sector bank, HDFC Bank to further encourage and promote listing of Start-ups and SMEs across India.
Through this MoU, HDFC Bank and BSE shall evaluate banking & lending solutions for Start-ups undergoing listing process on Start-ups and SME platform. HDFC Bank will identify potential Start-ups and SMEs and help them to partner with intermediaries like Merchant Bankers, Chartered Accountants and Lawyers to list on BSE. Both the parties have agreed to conduct and participate in joint outreach activities and contribute to each other’s publications on the Start-up ecosystem in India.
Commenting on the association, Shri Ajay Thakur, Head, BSE SME & Start-ups, said “Through this MoU we aim to resolve funding constraints for Start-ups and SMEs in India. BSE along with HDFC Bank shall work together to create a sustainable ecosystem for Start-ups and SMEs.”
“Startups are reimagining and reshaping the world we live in. At HDFC Bank, we are committed to developing, strengthening and collaborating with the start-up community and ecosystem in the country. We are extremely happy to reinforce our commitment to them through this MoU with BSE”, said Iqbal Singh Guilani, SVP, Retail Branch Banking, HDFC Bank.
BSE became the first stock exchange to get the approval from SEBI and had launched its SME platform on 13th March 2012. So far 353 companies listed on BSE SME Platform have raised Rs. 3731.81 crore from the market and total market capitalization of 353 companies as on October 29, 2021 is Rs. 38538 crores, out of which 117companies are migrated to BSE Main Board. BSE is the market leader in this segment with a market share of 61 percent.
