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12/10/2018 04:43pm

NSE signs MoU with Uttarakhand Govt to provide MSMEs with access to capital

image NSE signs MoU with Uttarakhand Govt to provide MSMEs with access to capital

New Delhi, Oct 12 (KNN) In order to provide MSMEs with access to capital, leading stock exchange NSE has signed a pact with the Uttarakhand government, which will fuel growth of such entities in the state.

NSE said in a statement that by increasing awareness, the bourse will play an active role in nurturing the SMEs and start-ups with the government on the opportunities to raise capital, SME exchange guidelines, listing processes, compliances with listing agreement among others. 

Ravi Varanasi, NSE Chief Business Development Officer said, "We, at NSE are happy to actively collaborate with the Government of Uttarakhand’s small and medium enterprises (SMEs) are crucial for economic growth, employment generation and broad based inclusive development."

He added, "We are very focused on providing access to capital to SMEs and look forward to supporting SMEs from Uttarakhand in their growth plans and do joint programmes with government of Uttarakhand in each district of the state or capital raising initiatives."

As part of the Memorandum of Understanding (MoU), the exchange will support the efforts of the government in enhancing the financing opportunities for micro, small and medium enterprises (MSMEs) in the state, through listing on NSE's SME platform-Emerge. 

To get listed on the NSE Emerge, the government will facilitate MSMEs, by supporting such entities financially or otherwise, in bearing the expenses related to listing. 

NSE's SME Platform has currently 182 companies listed, which together rose over Rs 2,850 crore.

The total market capitalization of these companies will be about Rs 11,300 crore. 

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