‘Indian stock exchanges supportive of SMEs’ growth’
For India to develop as an economy, the country needs to generate employment for its youth on a large-scale, which is possible only through SME (small and medium enterprises) sector. Hence, entrepreneurs from this sector who are looking to raise capital have the benefit of a more relaxed compliance, that being a key feature on the BSE and NSE’s SME platform, a Sebi official said.
image for illustrative purpose
Hyderabad For India to develop as an economy, the country needs to generate employment for its youth on a large-scale, which is possible only through SME (small and medium enterprises) sector. Hence, entrepreneurs from this sector who are looking to raise capital have the benefit of a more relaxed compliance, that being a key feature on the BSE and NSE’s SME platform, a Sebi official said.
Chief General Manager of SEBI Jeevan Sonparote was part of a panel of speakers for a talk show, ‘Celebrating Entrepreneurship: the joyride of a Roller Coaster.’ The event was a precursor to the fourth edition of BNI (Business Network International) Hyderabad’s flagship business event, Kamadhenu Estates BNI GoNat 2023, to be held on September 9 and 10, 2023, at Hitex in Hyderabad.
“Entrepreneurs from the SME sector can raise a capital of Rs 25 crore. The sector has the benefit of more relaxed compliance and that is one of the key features for SME segment on the BSE SME and NSE’s SME platforms,” Sonparote said.
He further informed that the filing or the financial reporting which usually is done on a quarterly basis, is half yearly for SME’s. “MSME is the backbone for any Industry to grow as these ancillary units support the big industries. Government is refocusing on SME sector, and this is where we want to recalibrate our regulations, we want people to come and list from this sector on SME platform. Even the Corporate governance which is the most feared is not applicable to SME sector,” he added.
SEBI offers another platform for SME’s to raise capital, called as the Innovators growth platform. Here, the focus is mainly on technology specific ventures who have a VC set-up and want to list on the stock exchange.
The other speakers included Manisha Saboo, Central Head Infosys (Hyderabad SEZ); Wg Cdr A Anish (Retd), Chief Delivery Officer, T-Hub; Venugopal Rao, Chairman, MSME Promotional Council of India; Amar Preet Singh, Founder, Neeman’s; Sanjana Shah, Executive Director, BNI Hyderabad. The moderator for the show was Aditya Deenadayal, Executive Director, Aalankrita Resort and Convention.
