National Stock Exchange & Government of WB signs agreement to ease fund raising for SMEs

National Stock Exchange

The National Stock Exchange (NSE) of India and the Government of West Bengal have signed a Memorandum of Understanding (MoU) to raise awareness among the state’s MSMEs about money raising through the IPO mechanism via NSE Emerge, the NSE’s SME platform.

Shri Debashish Bandhyapadhya, Special Secretary, MSME & Textiles, Government of West Bengal, and National Stock Exchange, Mumbai, signed a Memorandum of Understanding today in Kolkata in the presence of Dr H K Dwivedi, Chief Secretary, Government of West Bengal, and Shri Rajesh Pandey, Principal Secretary, MSME & Textiles, Government of West Bengal. Shri Sriram Krishnan, Chief Business Development Officer, represented the NSE at the MOU signing. As part of the agreement, the NSE, with the support of the West Bengal government, will conduct an awareness campaign through seminars, MSME camps, knowledge sessions, road shows, and workshops to guide corporates across the state in raising funds on the NSE Emerge platform and assisting companies in the listing process.

Shri Rajesh Pandey, Principal Secretary, MSME & Textiles to the Government of West Bengal, MSME & Textile Department said: “Under the leadership of Hon’ble Chief Minister Smt. Mamata Banerjee, Government of West Bengal, we have been working tirelessly to grow and facilitate the MSME sector. Today at ‘Bengal Global Business Summit’, we have signed a MoU with the National Stock Exchange to encourage and support the MSMEs of our state to pursue the capital market for growth opportunities. Listing on the capital market shall help them raise capital to fuel their growth story. This shall provide an opportunity to showcase their business to a larger set of investors through NSE Emerge platform. As a part of the MOU, we shall facilitate and jointly conduct awareness sessions for the MSMEs to help them understand the process of fund raising and the benefits of listing on the stock exchange.”

Shri Sriram Krishnan, Chief Business Development Officer, NSE said: “Today, at the ‘Bengal Global Business Summit’ held in Kolkata, Government of West Bengal and National Stock Exchange have entered in a MoU to collaborate and support the growth of MSMEs via NSE Emerge and also setting up of alternative fund platform for state MSMEs. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange. We shall organize awareness sessions for MSMEs of the state in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the MSMEs in the state to come forward and avail the new source of financing through NSE Emerge.”

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