Page 2 - Smes

Bumper listing: Stock of this SME debutant doubles against its issue price

Shares of Kalyani Cast-Tech locked in upper circuit at Rs 277.30, zooming nearly 100% from its issue price of Rs 139 on the BSE.

Favourable mkt conditions push 139 SMEs to mobilise Rs 3,540-cr via IPO

Strong participation of family offices as well as high-net-worth individuals (HNIs), adequate market liquidity, and optimistic investor sentiment have amplified interest in small and medium enterprise (SME) IPOs, with 139 such firms garnering Rs 3,540 crore through initial share sales in 2023 so far. This was higher than 109 companies that raised Rs 1,875 crore through initial public offerings (IPOs) in the entire 2022, according to data provided by primedatabase.com. Looking ahead, the fundraising environment for SME IPOs is anticipated to remain favourable, experts said. "The primary determinants include the growth potential of specific sectors, market liquidity levels, investor sentiment, and potential regulatory changes. The robust fundraising momentum is expected to persist, buoyed by the convergence of these influential factors," Abhishek Jain, Head of Research at Arihant Capital Markets Ltd, told PTI. Going by the industry data, a total of 139 IPOs have debuted on the SME ..

SMEs utilising digital technologies for various business functions: Report

Small and Medium enterprises (SMEs) have been utilising digital technology for various functions, with 60 per cent of them using it for human resources, 51 per cent for sales and marketing, and 48 per cent for finance, according to a report by industry body FICCI. The report also revealed that the accounting software (such as Tally/ Vyapar/ Busy, etc.) and business applications like ERP and CRM were reported to be the most used digital tools by SMEs. According to the report, most of the firms have experienced improvements in productivity and reductions in operational costs as a result of incorporating digital technology into their business functions. Approximately 35 per cent of respondents reported a reduction in their annual operational costs by 11-20 per cent as a result of digitalisation, the report said, adding that another 30 per cent of respondents indicated that their annual operational costs had decreased by more than 20 per cent. It said amongst the enterprises that repor

Kotak Mahindra Bank bets big on SMEs, mid-market segments in South

Currently, the bank's SME and mid-market portfolio forms 27 per cent of its entire wholesale banking book

Finance ministry asks Sidbi to increase direct lending portfolio

Out of Rs 10,000 cr corpus available under the Fund of Funds for Startups (FFS) Scheme, Sidbi has sanctioned around Rs 9,500 cr to AIFs and disbursements have been around Rs 4,500 crore so far

The Alternative Board forays into Tamil Nadu, sets sight on SMEs

Ramas Krishnan, managing partner of TAB India, said, "We began TAB India operations in Mumbai

Slowdown in gems & jewellery to hit SMEs hard: CRISIL SME Tracker

Recessionary pressures in the US, which is the largest market for cut and polished diamonds, are likely to impact demand and, in turn, revenue and profitability

India-UK join hands to drive transport decarbonisation initiatives

The initiative is backed by the governments of both India and the UK and is among the first to be announced following a landmark MoU signed by the UK and India Science Ministers

Star SME: Fine Organic Industries sets its sights firmly on the future

Fine Organic Industries' R&D strengths have helped it forge ahead in the chemicals business

SMEs in Singapore urged to use PayNow-UPI scheme for biz deals with India

The Singapore Indian Chamber of Commerce and Industry (SICCI) has urged Small and Medium Enterprises (SMEs) in the city-state to use the PayNow-UPI linkage for business dealings with India for ease of payment. SICCI Chairman Neil Parekh, while welcoming the launch of the linkage of India's Unified Payments Interface (UPI) and Singapore's PayNow on Tuesday, also emphasised that the SMEs stand to benefit from the launch of the cross-border real-time digital payment system. The launch is timely as both countries have resumed normalcy, and Singapore continues to see a steady and high influx of Indian entrepreneurs coming to Singapore for business delegation meetings with their counterparts and our Chamber, Parekh said. Small and medium enterprises stand to gain with this launch of real-time payment, and SICCI strongly urges SMEs who have business dealings with India to use the scheme for ease of payment, Parekh told PTI. Singapore Prime Minister Lee Hsien Loong and his Indian counterpa

Need to create specialised SME digital bank: Co-founder of Biz2Credit

Ahead of the Union Budget, Rohit Arora, CEO and Co-Founder of Biz2X, has suggested the government needs to come out with a specialised SME digital bank to cater to the funding needs of small businesses. Finance Minister Nirmala Sitharaman will present the last full Budget before the 2024 general elections in the Lok Sabha on February 1, wherein she is expected to announce slew of measures to boost economic growth. Arora said that small and medium businesses perennially face credit shortage and it is time that the government should come out with a specialised bank to cater their requirements. "SME digital bank can provide a bouquet of services to MSMEs, such as business CASA accounts for transaction banking, invoice and payments processing, correspondent banking, SME credit and trade finance, and other business financial services," he said. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small an

Discussions for next G20 Financial Inclusion Action Plan kicked off

The members will decide on the final priorities, but Sarkar said, the major ongoing priorities were digital financial inclusion and making finances more accessible to SMEs

BSE signs MoU with Goa govt to promote development of SMEs

Leading stock exchange BSE on Friday said it has joined hands with the government of Goa for the development of SMEs (Small Medium Enterprises) in the state. With the association of Goa government, the exchange will look at creating awareness amongst SMEs in the state on the benefits of listing on the exchange. BSE will also guide them on the efficient ways of raising capital through equity infusion. In this regard, BSE has signed a Memorandum of Understanding (MoU) with the government of Goa, the exchange said in a statement. Besides, the exchange will also provide training and capacity-building support to District Industries Centre officials and facilitates SMEs with respect to registration/listing on the platform. "This association with the government of Goa will play a significant role in opening a plethora of opportunities for small-medium enterprises," Sundararaman Ramamurthy, Managing Director and Chief Executive Officer of BSE, said. BSE is the largest SME Exchange in Indi

Nasscom hails draft data protection bill for dropping contentious rules

Provisions on non-personal data, criminal penalties, hardware certification scheme, and statutory data residency requirements among those axed

Key challenge for new BSE chief: Keep NSE, rival he helped build, in check

Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others

Govt may extend deadline for Cert-In cyber rules by 3 months to help MSMEs

According to Cert-In's guidelines, all enterprises, intermediaries, data centres and govt organisation are required to report any data breach to the government within six hours of becoming aware of it

25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD

Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

Google-backed Open plans to onboard 10 mn small businesses in three year

Open competes with players such as Razorpay and British fintech firms like Revolut and Tide

Twin headwinds lash SMEs in gems and jewellery sector: Crisil SME Tracker

The rise in the prices of gold will also curb demand, though it will support the revenues of SMEs