Current Affairs PDF

BSE signs MoU with IIT Alumni Council to Encourage Startups Listing and Develop a ‘High Investor Depth’ Platform 

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

BSE inks pact with IIT Alumni CouncilOn July 13, 2020 BSE(formerly Bombay Stock Exchange) informed that it has signed a  Memorandum of Understanding(MoU) with IIT Alumni Council  to encourage the listing of startups and develop a ‘High Investor Depth’ platform for those startups.

Benefits of the MoU

i.The alliance will ensure transparency of the entity, improvement in governance, market discovery of share price, provide liquidity for private equity investors and enable retail participation.

ii.It will help to minimise the listing time, complexity and cost for small and medium enterprise (SMEs) and start-ups by streamlining, automating and standardizing documentation processes. For this, the category-1 merchant banks will be empanelled.

iii.It will also enable to restore the startup platform by attracting a wide range of venture capital and private equity funds to act as underwriters and market makers (backed by the BSE members in the front-end)

Key Info

i.IIT Alumni Council proposes to use Artificial Intelligence(AI)and other automation tools to reduce time, cost and efforts involved in the listing process. This will improve the efficiency of the listing process and increase access to a pool of investors for startups.

ii.The associated and volunteer managed funds will be encouraged to underwrite, act as anchor investors and as market makers for theInitial Public Offering (IPO)s.

About BSE
Headquarters– Mumbai(Bombay), India
Chairman (Public Interest Director)– Justice Vikramajit Sen
MD & CEO– Ashishkumar Chauhan 

About IIT Alumni Council:
The IIT Alumni Council is the largest global body of alumni, students and faculty across all the 23 IITs with over 100 city chapters globally. It is a virtual, borderless, volunteer-led, flat organisation.
President and Chief Volunteer- Ravi Sharma