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Updated on: Tuesday, August 10, 2021, 08:12 PM IST

BSE aims at 60 SME listing in 2021-22; backed by ongoing bull run

PTI
The criteria of track record of profit had been reduced to one year infusing momentum that would lead to a jump of 50 per cent in listing on the platform, BSE head SME platform Ajay Thakur said.
Representational image | ANI Photo

The criteria of track record of profit had been reduced to one year infusing momentum that would lead to a jump of 50 per cent in listing on the platform, BSE head SME platform Ajay Thakur said. Representational image | ANI Photo

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The Bombay Stock Exchange is aiming at listing some 60 companies on the SME platform this fiscal backed by the ongoing bull run in the market and relaxation in eligibility criteria, a BSE official said on Tuesday.

The criteria of track record of profit had been reduced to one year infusing momentum that would lead to a jump of 50 per cent in listing on the platform, BSE head SME platform Ajay Thakur said.

Bringing SMEs onto the capital market route is not easy but Kolkata-based merchant banker Gretex Corporate Services Ltd is playing a crucial role in motivating the small companies from the east and other regions to unlock their value and raise funds tapping the capital market, he said.

“We expect the number of listings will be 60 companies this fiscal, of which 50 have already filed papers for approval. On an average, the annual listing has been anywhere from 30 to 40 companies, but this year it will be very high. There are now 343 companies on this platform including Gretex,” Thakur told PTI on the sidelines of the listing ceremony of Gretex Corporate Services.

He said that Gretex is one of the first partners of BSE, which is instrumental in attracting SMEs to get listed on the bourse raising capital through IPOs. After the platform was launched in 2012, initially no big merchant bankers had shown interest in providing services to SMEs or the platform.

“We have helped list 22 SMEs on this BSE platform and now we will be expanding to offer more listing and other services,” Gretex Managing Director Alok Harlalka said. Gretex director Arvind Harlalka said they are working with some 10 SMEs for listing this year and will expand the reach of the company across the country. “We are planning to tie up with 1000 professional associates across the country by this year,” Harlalka said.

Thakur said that 343 companies so far had raised Rs 3,525 crore and their market capitalization had soared to over Rs 32,000 crore. The platform also has 10 startups who had raised capital from the IPO route, he said.

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Published on: Tuesday, August 10, 2021, 08:12 PM IST
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