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Firms on NSE SME platform touch 150 mark, raise Rs 2,221 cr via IPOs

Firms on NSE SME platform touch 150 mark, raise Rs 2,221 cr via IPOs
New Delhi: Spurred by investor interest, the number of listed firms on NSE's small and medium enterprise (SME) platform reached 150, raising Rs 2,221 crore via initial public offer.
Two more firms -- E2E Network and 5 Core electronics -- will list on the exchange's Emerge platform next week and further traction is expected in the coming months as a slew of firms have lined-up their initial share-sale plans, an NSE spokesperson said.
"We touched the 150-mark on our Emerge platform on May 11. These firms mopped-up a total of Rs 2,221 crore," he said.
Of these, three have been now moved to the main board and there are 147 firms listed on the platform, with a market valuation of Rs 12,400 crore, he added.
In comparison, as many as 245 firms got listed on BSE's SME platform and garnered a total of Rs 2,246 crore. Of these, 48 have been migrated to the main board, as per latest update available with the exchange. At present, there are 197 companies listed on the BSE's SME platform with a market capitalisation of about Rs 11,311 crore.
BSE and the National Stock Exchange (NSE) had launched SME platforms in 2012. The platforms provide opportunity for investors to identify and invest in promising SMEs at an early stage.
Among the 150 companies listed on the NSE platform belong to a wide range of sectors, like logistics services, media, automotive components, pharma, infrastructure and hospitality. Governance structures, capital access for expansion, improved credit rating, easy finances and branding are some of the key benefits for listing on SME platform
Funds raised through the issues were used for business expansion plans, working capital requirements and other general corporate purposes.
"NSE is committed to continue engaging quality small and businesses, helping them access equity capital through our Emerge platform to guide them to robust business growth path," NSE Chief of Business Development Ravi Varanasi said.
PTI

PTI

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