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NSE aims to launch SME exchange in November

NSE aims to launch SME exchange in November
PTI
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First Published: Thu, Nov 03 2011. 11 00 AM IST

Updated: Thu, Nov 03 2011. 11 00 AM IST
Kolkata: The National Stock Exchange (NSE) aims to launch its Small and Medium Enterprises (SME) exchange platform in November.
“We have got final approval from Sebi. We will launch the platform this month,” NSE vice-president K Hari told reporters on the sidelines of a FICCI-organised seminar on MSME financing here on Wednesday evening.
The NSE received the Securities and Exchange Board of India’s (Sebi) nod to start its proposed SME exchange in October 2011.
The SME exchange will be a separate platform within the NSE.
The platform is expected to offer SMEs opportunities to raise equity from the market and unlock the intrinsic value of these enterprises.
Hari said a lot of companies have shown interest in the SME platform.
“A lot of companies have shown interest in the SME platform. We have interacted with more than 50 to 60 companies,” he stated.
The BSE is also expected to launch a trading platform for SMEs shortly.
On the parameters for listing on the SME platform, Hari said, “If the paid-up capital of the company post-issue is less than Rs10 crore, then it can definitely come to the SME platform. If the paid-up capital is between Rs10 crore and Rs 25 crore, the company has the choice to come to the main exchange or come to the SME platform.”
The Small Industries Development Bank of India (SIDBI) is already working with the NSE to set up the SME exchange.
“A lot of institutions are working together with us. SIDBI and a couple of other institutions are there. It is in the discussion stage,” he said.
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First Published: Thu, Nov 03 2011. 11 00 AM IST
More Topics: NSE | BSE | SME Exchange | Sebi | K Hari |