NSE signs pact with Andhra Pradesh to help small businesses get listed

Top stock exchange NSE on Tuesday inked a pact with Andhra Pradesh government to help micro, small and medium enterprises (MSMEs) in the state to raise capital through listing on the bourse's platform.

As per the memorandum of understanding (MoU), the AP government would facilitate MSMEs to get listed on NSE Emerge, the platform for small and medium enterprises, by supporting such firms financially or otherwise, in bearing the expenses related to listing.

"A fund is also being created by the Andhra Pradesh government to encourage investors to invest in the fast growing SMEs in the state, on the exchange platform," NSE said in a statement.

The MoU was signed between AP government's industries, commerce & export promotion Commissioner Siddhartha Jain and NSE's Chief Business Development Officer Ravi Varanasi, at Vijaywada in AP.

The pact was signed on the occasion of the International Day for MSMEs being celebrated today.

The NSE will be hand-holding small and medium through the process of listing, thereby facilitating capacity building for the MSMEs, the exchange said.

The listing helps companies to get better access to capital for their expansion and growth, provides visibility to local companies at the national level, gives them high credibility and unlocks valuation.