NSE signs MoU with Bengal govt's MSME & Textile department

The National Stock Exchange of India Limited (NSE) today signed an MoU with the MSME and textiles department of West Bengal government for supporting and facilitating alternate sources of funding through equity among the small and medium sector enterprises.

The Micro Small and Medium Enterprises (MSME) and Textiles department have taken the initiative to engage the NSE with all industry associations and chamber bodies, so that large number of SMEs in West Bengal can be encouraged to explore alternate sources of funding and help list them on emerge platform of NSE, a NSE statement said.

This initiative by is just the beginning of journey towards the objective of getting 100 SMEs from West Bengal, listed on NSE Emerge platform by 2020, it said.

NSE Emerge has a total of 168 SMEs, listed on the platform with total capital raise of Rs 2,597 crore.

Currently, six companies from varied industries in the state are listed on NSE Emerge platform with total funds raised standing approximately at Rs 44 crore, it said.

Also, approximately 15 new companies from West Bengal plan to get listed on NSE Emerge platform over the next one year, the statement said.