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NSE to see 11 SME listings in one week: total no. to hit 97

Press Trust of India  |  Mumbai 

Top stock exchange is likely to see a stream of listings on its segment for small and medium enterprises (SMEs) in next one week, taking the total tally of such firms on the bourse close to the 100-level milestone.

While eight SMEs got listed on the National Stock Exchange (NSE) so far since October 4, as many as 11 are lined up for listing in next one week.

With these listings the total number of companies on Emerge, which is NSE's platform for SMEs, would hit the 97-mark, information provided by the exchange to PTI shows.

The eight companies which got listed on the between October 4-October 9 are -- Cadsys (India) Ltd, R M Drip and Sprinklers System Ltd, Innovative Tyres and Tubes Ltd, Shree Tirupati Balajee FIBC Ltd, Aarvi Encon Ltd, D P Wires Ltd, Airo Lam Ltd and RKEC Projects Ltd.

Meanwhile, the companies expected to be listed in next 7-8 days include Goldstar Power, Jash Engineering, Reliable Data Services, Tirupati Forge, CMM Infraprojects, Beta Drugs and Milton Industries.

Of the total 19 SMEs, including eight companies which got recently listed, six are based in Madhya Pradesh, while five are located in Gujarat.

Another three companies are from Maharashtra, and one each is from Andhra Pradesh, Himachal Pradesh, Jharkhand, Telangana and Delhi.

"In recent times, we have seen significant improvement in the way SME IPOs on 'Emerge' have attracted investor participation," chief business development officer Ravi Varanasi said.

"Institutional investors have started participating in these IPOs which shows enhanced investor interest in SME IPOs and their growth story," he added.

The total market capitalisation of SMEs listed the exchange is currently Rs 5,800 crore.

Emerge provides capital raising opportunities to credible and fast growing businesses with good governance standards. It is an ideal platform to raise funds for companies on a growth path, but not large enough to list on the main board.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 18:42 IST