Two list on NSE Emerge ITP, total listed firms now 17

The total number of companies listed on NSE's institutional trading platform (ITP) has touched 17 with the listing of two more firms -- GIR Natureview Resorts and Bhalchandram Clothing -- the exchange said today.
Both the companies, which are Mumbai-based, got listed on NSE Emerge ITP, an exclusive platform for start-ups and small and medium enterprises to list and raise money from institutional investors without an initial public offer.
GIR Natureview Resorts provides support services to hospitality industry while Bhalchandram Clothing trades in raw cotton and cotton yarns.
NSE had launched the platform in December 2013.
According to guidelines, companies looking to list on Emerge ITP without an IPO should not have been incorporated for more than 10 years and have revenues of less than 100 crore and paid up capital of less than 25 crore.

"The institutional trading platform helps start-ups in enhancing the visibility of the company, creating a market for the company's shares, besides increasing public awareness and interest in the company and its products.
"It also provides access to additional fund raising, through rights or placement issues," NSE Business Development Chief Ravi Varanasi said.
Companies can raise funds on Emerge ITP through rights or placement issues.