NSE joins hand with Telangana govt to fuel growth of MSMEs

New Delhi, Mar 5 (KNN) Country's leading stock exchange NSE has collaborated with the Telangana Government to encourage and support the MSMEs (micro, small & medium enterprises) of the state for listing.

Jayesh Ranjan, Principal Secretary, Industries and Commerce Department, Government of Telangana, said the state has been at the forefront to provide ease of business environment for the MSMEs.

"To strengthen our stance, the Government of Telangana has signed an MoU with the NSE to enable SMEs to list on the NSE Emerge platform to raise capital in an efficient manner and scale up their business to compete globally," he added.

As a part of the pact, NSE with the support of the Telangana government will conduct awareness drives through seminars, camps, knowledge sessions, road shows and workshops to guide corporates across the state in fundraising on NSE Emerge platform, and also handhold the companies in the listing process.

On its part, the state government will facilitate MSMEs to get listed on NSE Emerge by considering ways to reimburse certain expenses incurred on fundraising with a pre-defined upper limit.

The state will also explore the possibility of setting up a government-sponsored equity participation fund to invest in the fast-growing SMEs on the exchange platform.

Hari K, Chief Business Officer at NSE, said that the exchange and the Telangana government have joined hands to actively support the SMEs to get listed.

At present, as many as 241 companies from various sectors are listed on SME Emerge. Total funds raised on the platform till date is a little over Rs 3,683 crore. The platform has 10 companies from Telangana. (KNN Bureau)