Bhubaneswar (Odiha Tazanews) :- India’s leading stock exchange, the National Stock Exchange (NSE), and the Government of Jammu and Kashmir have signed a Memorandum of Understanding (MoU) to spread awareness amongst MSMEs of the Union Territory regarding fund raising via the IPO mechanism using NSE Emerge, which is the SME platform of NSE.
The MoU was exchanged between Shri Arun Manhas, Director, Industries and Commerce – Jammu, Shri Khalid Majeed, Director, Industries and Commerce – Kashmir, and Shri Krishnan Iyer, Senior Vice President, National Stock Exchange, recently in Jammu, in the presence of Shri Omar Abdullah, Chief Minister of Jammu and Kashmir.
As part of the understanding, NSE, with the support of the Government of Jammu and Kashmir, shall conduct awareness drives through seminars, MSME camps, knowledge sessions, road shows, and workshops to guide corporates across the state on fund raising via the NSE Emerge platform and handhold companies in the listing process.
Shri Vikramjit Singh, Secretary, Industries and Commerce, said, “Under the leadership of Honorable Chief Minister of Jammu and Kashmir, Shri Omar Abdullah, we have been striving to provide a conducive ecosystem for the MSMEs of our Union Territory to further grow their businesses and create attractive business models that attract investment opportunities globally.
Recently, as a step to propel this growth story, we signed an MoU with the National Stock Exchange to encourage MSMEs from the Union Territory of Jammu and Kashmir to tap capital markets via the NSE Emerge platform and raise funds via IPO. NSE Emerge as a platform provides an alternate source of investment-raising opportunities for growing SMEs.
NSE Emerge provides MSMEs access to public capital along with an opportunity for enhanced visibility and credibility. As part of the MoU, the Government of Jammu and Kashmir and NSE shall jointly conduct awareness sessions and campaigns amongst MSMEs to help them better understand the process of listing on the stock exchange and its related benefits.
” Shri Sriram Krishnan, Chief Business Development Officer, NSE, said: “The Government of Jammu and Kashmir and the National Stock Exchange have entered into an MoU to collaborate and support the growth of MSMEs via the NSE Emerge platform. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through listing on the stock exchange.
We shall organize awareness sessions for MSMEs of Jammu & Kashmir in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the MSMEs in the Union Territory to come forward and avail themselves of this new source of financing through NSE Emerge.”
As on today, 690 companies from various sectors are listed on the NSE Emerge platform and have collectively raised over INR 20,759 crore. The total market capitalisation of these companies is approximately INR 2,00,000 crore. NSE, India’s largest stock exchange and a global leader in derivatives trading, is a technology- driven marketplace offering integrated services across trading, clearing, settlement, indices, and investor education.
