Kolkata: National Stock Exchange (NSE) today inked a MoU with West Bengal government to facilitate alternate funding through equity to the small and medium sector enterprises in the state. The ambitious plan has set a target of listing 100 SME’s from Bengal on NSE Emerge by 2020.
The MoU was signed by Bengal micro, small and medium enterprises (MSME) department special secretary Debarati Dutta Gupta and NSE regional head Tojo Banerjee on the concluding day of the West Bengal State MSME Conclave at Rajarhat. State industries and finance minister Amit Mitra was present.
As of now only six companies from Bengal are listed on NSE Emerge with total funds raised standing approximately at Rs 44-crore. Another 15 MSMEs from the state are touted to get listed on over the next one year.
Under the MoU inked today, NSE will play an active role in nurturing the start-ups and SME companies by raising awareness on the opportunities to raise capital, SME exchange guidelines, listing processes, compliance with listing agreement, etc. It will offer information on merchant bankers, registrar and transfer agent, depositories, and other intermediaries.