Stock exchange BSE has said the Rs 10,000- crore venture capital fund for start-ups and MSMEs announced in the Budget will help boost its SME platform as it expects more small companies to approach it to raise capital.
‘We are looking at more and more SMEs to get listed on BSE SME Platform to raise funds and list themselves,’ BSE Managing Director and Chief Executive Ashishkumar Chauhan said on the sidelines of an ICSI event over the weekend.
At present, there are 61 SMEs listed on BSE's dedicated SME platform, which was launched in March, 2012. Of these, 20 are traded on the platform and their combined market capitalisation stood at Rs 7,448.25 crore as of 11 July.
The BSE was the first bourse to launch a dedicated platform for SMEs and start-ups in March 2012 after the regulator Sebi allowed small companies to get listed without an IPO. It launched an institutional trading platform for this in November 2013. The NSE followed suit in September in the same year when its platform Emerge went live. This development came after the Budget 2012 had announced that start-ups and SMEs could get listed on the bourses without bringing IPO.
Consequently, capital markets regulator Sebi decided to permit the listing without IPO and trading of specified securities of SMEs, including start-up companies, on institutional trading platform on the exchanges.
Sebi notified new provisions and issued a detailed circular to facilitate such listings last October.
Experts are of the view that Jaitley’s announcement was positive for the start-up community but the implementation of the vision will be the key. In the 2012-13 Budget, Rs 5,000 crore was set aside to help small enterprises through the state-owned Small Industries Development Bank of India
( SIDBI).
... Forms 11-member advisory group on REITs
The Bombay Stock Exchange (BSE) has launched an advisory group on REITs (real estate investment trusts), which are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.
Finance Minister Arun Jaitley while presenting the budget last Thursday had announced tax incentives like exemption from long-term capital gains tax to popularise REITs, which could be listed on the bourses like company shares and allow retail and institutional investors to buy or sell those securities.
‘To orderly help develop the REITs and to make it popular among investing public, the exchange has decided to make an 11-member advisory group of experts from real estate, securities market participants like merchant bankers, legal professionals and consultants in real estate and will advise the exchange relating the newly proposed framework on REITs,’ BSE said in a statement.
The advisory group members include Saurabh Chawla of DLF, Vinod Rohira of K Raheja Corp, DB Group's Vipul Bansal, Apurva Shah of Deutsch Equity, Deepak Chhabaria of RMZ Corp, Gesu Kaushal of Kotak Capital, Gautam Bhalla of Vatika Group, Jesal Sanghvi of Capacity Real Estate, Sanjay Chandel of Azure Capital Advisors, Shobhit Agarwal of JLL India, and Siddharth Shah of Khaitan & Co, the BSE said.
According to the realty industry players, REITs can attract a whopping $ 10 billion foreign funds into the sector.
‘We are looking at more and more SMEs to get listed on BSE SME Platform to raise funds and list themselves,’ BSE Managing Director and Chief Executive Ashishkumar Chauhan said on the sidelines of an ICSI event over the weekend.
At present, there are 61 SMEs listed on BSE's dedicated SME platform, which was launched in March, 2012. Of these, 20 are traded on the platform and their combined market capitalisation stood at Rs 7,448.25 crore as of 11 July.
The BSE was the first bourse to launch a dedicated platform for SMEs and start-ups in March 2012 after the regulator Sebi allowed small companies to get listed without an IPO. It launched an institutional trading platform for this in November 2013. The NSE followed suit in September in the same year when its platform Emerge went live. This development came after the Budget 2012 had announced that start-ups and SMEs could get listed on the bourses without bringing IPO.
Consequently, capital markets regulator Sebi decided to permit the listing without IPO and trading of specified securities of SMEs, including start-up companies, on institutional trading platform on the exchanges.
Sebi notified new provisions and issued a detailed circular to facilitate such listings last October.
Experts are of the view that Jaitley’s announcement was positive for the start-up community but the implementation of the vision will be the key. In the 2012-13 Budget, Rs 5,000 crore was set aside to help small enterprises through the state-owned Small Industries Development Bank of India
( SIDBI).
... Forms 11-member advisory group on REITs
The Bombay Stock Exchange (BSE) has launched an advisory group on REITs (real estate investment trusts), which are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.
Finance Minister Arun Jaitley while presenting the budget last Thursday had announced tax incentives like exemption from long-term capital gains tax to popularise REITs, which could be listed on the bourses like company shares and allow retail and institutional investors to buy or sell those securities.
‘To orderly help develop the REITs and to make it popular among investing public, the exchange has decided to make an 11-member advisory group of experts from real estate, securities market participants like merchant bankers, legal professionals and consultants in real estate and will advise the exchange relating the newly proposed framework on REITs,’ BSE said in a statement.
The advisory group members include Saurabh Chawla of DLF, Vinod Rohira of K Raheja Corp, DB Group's Vipul Bansal, Apurva Shah of Deutsch Equity, Deepak Chhabaria of RMZ Corp, Gesu Kaushal of Kotak Capital, Gautam Bhalla of Vatika Group, Jesal Sanghvi of Capacity Real Estate, Sanjay Chandel of Azure Capital Advisors, Shobhit Agarwal of JLL India, and Siddharth Shah of Khaitan & Co, the BSE said.
According to the realty industry players, REITs can attract a whopping $ 10 billion foreign funds into the sector.