New Delhi, July 18 (KNN) There has been a significant rise in the amount raised by the companies through the SME platforms – BSE SME and NSE Emerge.

Small and medium enterprises (SMEs) raised as much as Rs 15.46 billion through initial public offerings during the first six months of the year. This is more than double from what they raised during the same period last year.

About 88 companies got listed with initial share sale offers worth Rs 15.46 billion during January-June 2018 compared with 50 firms which tapped the IPO route to garner Rs 6.6 billion in the same period of the previous year.

Funds raised through initial public offers (IPOs) were used for business expansion plans, working capital requirements and other general corporate purposes, as per the offer documents.

Further, the average issue size also increased to Rs 175 million during the period under review from Rs 130 million in the first six months of 2017.