On June 01, 2021, the Bombay Stock Exchange (BSE) signed a Memorandum of Understanding (MoU) with Electronics and Computer Software Export Promotion Council (ESC) to create awareness among Small and Medium Enterprises (SMEs) and startups about the benefits of listing on the BSE SME & Startup platform.
ESC is an organisation sponsored by the Government of India (GoI) to promote the export of the Information and Communications Technology (ICT) sector from India and it works as a bridge between the GoI and the industry on policy and promotional matters.
Initiatives under the partnership:
i.By utilising its network, ESC will evaluate the SMEs and startups for listing on the BSE SME and startup platform.
ii.Both ESC and BSE plans to host roadshows and events across India to create awareness and promote the listing of SMEs and startups and raise equity capital on the exchange to expand and grow their business.
BSE SME & Startup platform:
BSE launched its SME platform in March 2012 as per the rules and regulations laid down by SEBI, it offers an entrepreneur and investor-friendly environment and enables the listing of SMEs from the unorganized sector into a regulated and organized sector. Around 337 companies were listed so far in it and raised nearly Rs 3,500 crore from the market.
Recent Related News:
On March 25, 2021, the Securities and Exchange Board of India(SEBI) decided to introduce many relaxations to the framework of Innovators Growth Platform (IGP) to help start-up and made some amendments to SEBI regulations such as Delisting of Equity Shares and Alternative Investment Funds.
About Bombay Stock Exchange (BSE):
It is Asia’s first & the Fastest Stock Exchange in the world with a speed of 6 microseconds.
Establishment – 1875
Headquarters – Mumbai, Maharashtra
Chairman – Justice Vikramajit Sen
MD&CEO – Ashishkumar Chauhan
About Electronics and Computer Software Export Promotion Council (ESC):
It is India’s apex trade promotion organisation mandated to promote India’s exports of Electronics, Telecom, Computer Software and IT Enabled Services.
Headquarters – New Delhi
Chairman – Sandeep Narula