NSE inks pact with Bengal for MSME fund raising

The National Stock Exchange (NSE) on Tuesday signed an MoU with the West Bengal government's MSME & Textiles Department for supporting and facilitating the culture of alternate sources of funding through equity among the small and medium sector enterprises in the state.

About 15 new companies from the state plan to get listed on its NSE Emerge platform in the next one year.

This initiative of state in collaboration with the stock exchange was initiated with the objective of getting 100 small and medium enterprises (SMEs) from the eastern state listed on the platform by 2020.

The memorandum of understanding (MoU) was signed by Debarati Dutta Gupta, Special Secretary of the Micro, Small & Medium Enterprises (MSME) Department, and the stock exchange's Regional Head Tojo Banerjee at the West Bengal State MSME conclave.

"Currently, six companies from varied industries in the state are listed on the platform with total funds raised standing approximately at Rs 44 crore, and approximately 15 new companies from the state plan to get listed on it the next one year," a statement said.

The platform of the stock exchange has a total of 168 SMEs, listed on it with total capital raise of Rs 2,597 crore.

--IANS

bdc/nir