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2011-07-04

SME exchange coming soon

SEBI approves SME exchange

Lakhsman Guguluthu, CEO, BSE-SME Exchange, while addressing a session organized by CII Eastern Region, recently, emphasised on the issues of the substantial growth of SMEs which contribute to the 8 percent of country's Gross domestic product (GDP).

SMEs also contributes 45 percent of India's manufactured output and 40 percent of the exports.

"Small investors have to be lured but informed investors who are ready to make medium or long term investments are preferable for growth of SMEs," Guguluthu added.

On setting up of the SME Exchange, he said: "We have got in-principle approval from Sebi for setting up the SME exchange. We await the final approval which is expected to come very soon."

"Of the listed companies, there are 1,500 firms with a paid-up capital of less than Rs 10 crore and 2,500 companies with a paid-up capital of Rs 10-25 crore. This makes 4,000 companies (of the 6,000 listed) who can qualify for the SME exchange," said Gugulothu.

These companies will be encouraged to switch to the new bourse for which they will not be required to issue fresh shares.

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