NSE joins hand with Telangana govt to fuel growth of MSMEs

Leading stock exchange NSE on Friday said it has collaborated with the Telangana government to encourage and support the MSMEs (micro, small & medium enterprises) of the state for listing.

As part of the pact, NSE with the support of the Telangana government will conduct awareness drive through seminars, camps, knowledge sessions, road shows and workshops to guide corporates across the state in fund raising on NSE Emerge platform, and also handhold the companies in the listing process.

On its part, the state government will facilitate MSMEs to get listed on NSE Emerge by considering ways to reimburse certain expenses incurred on fund raising with a pre-defined upper limit.

The state will also explore the possibility of setting up a government-sponsored equity participation fund to invest in the fast-growing SMEs on the exchange platform.

Jayesh Ranjan, Principal Secretary, Industries and Commerce Department, Government of Telangana, said, the state has been at the forefront to provide ease of business for MSMEs.

"To strengthen our stance, Government of Telangana has signed an MoU with the NSE to enable SMEs to list on the NSE Emerge platform to raise capital in an efficient manner and scale up their business to compete globally," he added.

Hari K, Chief Business Officer at NSE, said that the exchange and the Telangana government have joined hands to actively support the SMEs to get listed.

"We at NSE would handhold the SMEs through the listing process, thereby empowering them to achieve next level of growth. Listing facilitates better access to capital for their future growth story, enhances credibility and visibility at national level and supports to unlock valuation," he added.

At present, 241 companies from various sectors are listed on SME Emerge. Total funds raised on the platform till date is a little over Rs 3,683 crore. The platform has 10 companies from Telangana.