Sunday, June 23, 2024

BSE signs MOU with Federal Bank to list SMEs

BSE has signed an MoU with the Federal Bank to promote the listing of small and medium enterprises (SMEs) and startups on the BSE, SME & Startup platform.

The collaboration will enable BSE to take advantage of Federal Bank’s SME and Startup clientele to encourage them regarding listing their companies on the stock exchange.

Ajay Thakur, Head of BSE, SME and Startups, said: “We are excited to partner with Federal Bank, and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing.

He further said that this step is stepping stone in BSE’s endeavour to further penetrate the SME and Startup ecosystem and provide them with the platform for equity financing.”

BSE, India’s premier stock exchange and a leading private sector bank, Federal Bank, will jointly evaluate the SMEs and startups undergoing the listing process.

Harsh Dugar, Group President and Country Head, Federal Bank, said: “We are delighted to partner with BSE on the SME and Startups space. As one of India’s foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector make us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.”

It is to be noted that there are 364 SMEs listed on the BSE SME platform, and 14 companies have been listed on BSE Startups platform until today.

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