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NSE expects 8-10 listings on institutional platform by March

Press Trust of India  |  Bangalore 

The National Stock Exchange of India (NSE) today said its newly launched institutional trading platform (ITP), which allows start-ups to list without an initial public offering, is expected to have eight to 10 listings by March end.

"ITP was just launched in December end...We are expecting by this quarter end, by this March, eight to 10 listings," NSE Chief (Business Development) Ravi Varanasi told reporters here.

Stating that ITP was announced by the Finance Minister in his Budget speech, Varanasi said the platform is aimed at providing easier exit options for entities such as angel investors, venture capital funds and private equity firms, besides providing better visibility, a wider investor base and greater fund-raising capability to such companies.

"The whole idea is to create a pipeline for growth companies to develop themselves over a period and turn into large companies," he said.

A company would be eligible for such a listing if it has not completed 10 years after incorporation, and its revenue has not exceeded Rs 100 crore in any of the financial years, he said.

The NSE had organised a week-long investor awareness programme in the city to help people learn about the basics of the stock market, financial planning and safe investing, and to encourage them to participate in the country's capital markets.

The initiative will conclude with an investor run - 'Investothon' tomorrow, officials said.

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First Published: Sat, February 08 2014. 17:49 IST
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