New Delhi, Nov 23 (KNN) The National Stock Exchange (NSE) on Wednesday signed a MoU with the West Bengal government to make MSMEs in the state aware about the benefits of fundraising through an initial public offering (IPO) and its mechanism using the bourse's SME platform.

The leading stock exchange will conduct awareness campaigns through seminars for MSMEs to guide corporates across the state for fundraising on its SME platform.

As part of the pact, NSE will hold camps, knowledge sessions, road shows and workshops for MSMEs.

“On the sidelines of Bengal Global Business Summit, a MoU was signed with the NSE to encourage and support the MSMEs of our state to pursue the capital market for growth opportunities,” said Rajesh Pandey, Principal Secretary, MSME and Textiles Department to West Bengal Government.

“Listing on the capital market shall help them raise capital to fuel their growth story. This shall provide an opportunity to showcase their business to a larger set of investors through NSE Emerge platform,” added Pandey.

Sriram Krishnan, Chief Business Development Officer at NSE, said that the platform helps SMEs (Small and Medium Enterprises) to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange.

Currently, NSE's SME Emerge platform has 396 companies from various sectors listed and total funds raised on the platform till date is over Rs 7,800 crore. The market capitalisation of these companies has crossed Rs 94,000 crore.

The platform has 16 companies listed from West Bengal on the platform with collectively fund mobilisation of over Rs 224 crore.

(KNN Bureau)