Mumbai, India – May 17, 2024- The Bombay Stock Exchange (BSE), Asia’s oldest stock exchange, celebrated a landmark achievement today with the listing of its 500th small and medium enterprise (SME) on the BSE SME Platform. This milestone signifies the platform’s crucial role in empowering Indian SMEs and fostering their growth journeys.
Mr. Ajay Thakur, who is recognized as the “Father of SME Capital Growth in India” and Head of BSE SME, played an important role in establishing this platform. The BSE SME Platform was the first of its category in India when it was introduced on March 13, 2012. It meant to provide SMEs with easier access to equity funding through relaxed eligibility criteria and streamlined post-listing compliance requirements.
Initially, the platform faced challenges. To ease the risk, underwriting was made mandatory and the investment ticket size was set at approximately Rs 1.25 lakh. This guarded approach, though essential, led to a slower initial response. However, the BSE’s determination, commitment and consistent efforts paid off. Over time, the platform gained traction, attracting a various pool of investors, including Qualified Institutional Buyers (QIBs), banks, High Net worth Individuals (HNIs), and retail investors.
This commitment culminated in a significant occasion on May 14, 2024, with the listing of FINELISTINGS TECHNOLOGIES LIMITED as the 500th SME on the BSE SME Platform. This achievement marks a significant milestone for both the platform and Indian SMEs. These 500 companies have collectively raised a remarkable Rs 6,581 crore through the platform, creating a market capitalization of Rs 1,52,543 crore.
This success story serves as a symbol of hope, encouraging countless other SMEs to consider listing and unlock their growth potential. Access to capital empowers them to invest in innovation, expand operations, and create valuable jobs, contributing significantly to the nation’s economic development.
The BSE remains committed to supporting the aspirations of Indian SMEs. By continuously refining the platform and fostering a vibrant ecosystem, the BSE SME Platform is on the edge to empower even more businesses and fuel the growth engine of the Indian economy.
