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BSE SME Exchange lists 50th firm; m-cap crosses Rs 3,000 cr

The Surat-based SiVi Shipping Corporation became the 50th company to be listed on the BSE SME Exchange.

The IPO of SiVi Shipping was over-subscribed by almost two times in the HNI category. The company offered fresh issue of 27.42 lakhs equity shares at a fixed price of Rs 25 per share, including a premium of Rs 15 per share on a face value of Rs 10 per share, aggregating Rs 6.85 crore.

The issue constitutes 47.67 per cent of the post issue paid-up equity share capital, closed on 21 February. The BSE's SME platform achieved this milestone in a short span of two years since its launch in March, 2012.

This platform has opened up immense opportunities for the small and medium enterprises to
maximise wealth, optimise its potential and gain visibility, BSE MD & CEO Ashish Chauhan said.

The BSE SME Exchange is the leading platform for small companies to go public and we have the  highest number of SMEs listed, he said, adding ‘the exchange will take every step to retain our leadership position in this segment. With this 50th listing, the market capitalisation of the BSE SME Exchange exceeds Rs 3,000 crore’.

Additional 15 companies are in the pipeline to be listed on this platform in next two months, Chauhan said.

Rajeev Agrawal, whole-time member, Sebi, stated, ‘A newer platform called institutional trading platform (ITP) has also been opened up recently where at SMEs can list without an IPO. Listing on ITO without IPO further simplifies the listing process and aims to facilitate growth capital raising by SMEs from angel, VC, strategic investors in a tax efficient manner’.

SME listing provides many benefits like operational and tax benefits, and help SMEs to grow faster. Listing enables SMEs to create wealth through stock market mechanism.

Cost of compliance for both IPO and post-IPO is significantly reduced as many onerous compliances are relaxed for SMEs, BSE SME Exchange head Ajay Thakur said.
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