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BSE to help firms from UP get listed on SME bourse

| Sunday | 18th February, 2018

Due to the increased scrutiny by being a listed company, the confidence in it grows,” said Thakur. We will hand-hold SMEs through the process of listing on the exchange and help them understand how it will be beneficial for them. Listing brings transparency and helps in brand building, better marketing etc. If there is no profit, then the minimum net worth of the company should be Rs 5 crore.As per terms of the MoU, BSE will work along with the state to raise awareness about the stock market at district level.“Either people don’t know about the exchange or think that only large companies can get listed. LUCKNOW: UP government has signed an MoU with BSE Ltd , formerly known as Bombay Stock Exchange , on Saturday under which BSE will assist small and medium industries with getting themselves listed on the SME stock exchange.A Kanpur-based company, Tasty Dairy , will be listed on BSE’s SME (small and medium-sized enterprises) exchange during the opening session of the two-day UP Investors’ Summit on February 21.Infrastructure and industrial development commissioner Anup Chandra Pandey said that with the signing of the MoU, the exchange would guide small companies on how to get themselves listed on the exchange and how that will be beneficial for them.The cash deposit ratio of banks for UP is 46%, which means that they have been investing in other states.

LUCKNOW: UP government has signed an MoU with BSE Ltd , formerly known as Bombay Stock Exchange , on Saturday under which BSE will assist small and medium industries with getting themselves listed on the SME stock exchange.A Kanpur-based company, Tasty Dairy , will be listed on BSE’s SME (small and medium-sized enterprises) exchange during the opening session of the two-day UP Investors’ Summit on February 21.Infrastructure and industrial development commissioner Anup Chandra Pandey said that with the signing of the MoU, the exchange would guide small companies on how to get themselves listed on the exchange and how that will be beneficial for them.The cash deposit ratio of banks for UP is 46%, which means that they have been investing in other states. We would like our companies to not just avail finance from banks but also raise money through public funding on the stock exchange,” he said.Ajay Thakur , head of BSE’s SME platform, said that very few companies from UP are listed on the exchange and Tasty Dairy’s registration was being feted because it was after a long time that a UP-based company was getting listed.The company, Thakur said, had set out to raise Rs 24 crore but was oversubscribed 97 times.To get listed on the SME exchange, a company needs to have a net worth of Rs 3 crore, net tangible assets of Rs 3 crore and show profits for two out of the last three years. If there is no profit, then the minimum net worth of the company should be Rs 5 crore.As per terms of the MoU, BSE will work along with the state to raise awareness about the stock market at district level.“Either people don’t know about the exchange or think that only large companies can get listed. We will hand-hold SMEs through the process of listing on the exchange and help them understand how it will be beneficial for them. Listing brings transparency and helps in brand building, better marketing etc. Due to the increased scrutiny by being a listed company, the confidence in it grows,” said Thakur.

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