SME Rating Agency of India (SMERA) has been registered under the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
SMERA is a dedicated ratings agency for the MSME sector in India and is the first and only ratings agency in the MSME space that is dedicated to increasing credit flow to the MSME sector, a press release issued here today stated.
The Mumbai-based agency was incorporated in August, 2005, and is promoted by SIDBI, Dun & Bradstreet and other leading banks in India. The Sebi registration makes SMERA the sixth ratings agency in India to rate issues related to the capital market.
Sebi registration paves the way for SMERA to rate capital market instruments such as IPOs, bonds, commercial papers, security receipts, among others, the release said, adding that the Sebi registration gives SMERA higher credibility and acceptance in the market.
SMERA CEO Parag Patki said, "SMERA is committed to improve the rating penetration in the country for the systematic development of the capital market. SMERA Ratings would assist the Indian investors in making suitable investment decisions for their risk profile."
SMERA has been set up by SIDBI in association with Dun & Bradstreet (D&B) and leading public and private sector banks and is the country's first ratings agency focused primarily on the Indian MSME segment.
Its primary objective is to provide ratings that are comprehensive, transparent and reliable. This would facilitate greater and easier flow of credit from the banking sector to MSMEs.