BSE SME Exchange, promoted by the country’s premier stock exchange BSE, today commenced operation with the listing of the shares of BCB Finance at 8 per cent premium.
BSE SME Exchange, promoted by the country’s premier stock exchange BSE, today commenced operation with the listing of the shares of BCB Finance at 8 per cent premium.
BCB Finance, a Mumbai based non-banking finance company raised Rs 8.85 crore through public issue of 35.4 lakh equity shares. The stock opened at Rs 27 (an equilibrium price decided in pre-opening session) against the issue price of Rs 5 on BSE SME Exchange.
The SME Exchange hopes to list 10 companies in FY’12 and nearly 100 companies on its trading platform in the next 18-month period.
The exchange will provide a great opportunity to entrepreneurs to raise equity capital for the growth and expansion of SMEs.
The growth in credit to MSME sector went up by 33 per cent to Rs 4 lakh crore in the current year and the sector needs Rs 4.7 lakh crore loans and Rs 2.5 lakh crore equity. The SME exchanges will provide the required platform for raising funds to these companies.
The MSME sector contributes 15 per cent to GDP and the Government is looking at raising the contribution to 22 per cent to GDP.
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