 "NSE sees 100th firm migration from SME patform to main-board")
Leading stock exchange NSE on Thursday witnessed the 100th migration from the SME (small and medium enterprise) platform to the main-board.
The exchange's SME Platform -- EMERGE -- was launched in 2012 and has been providing a viable and sustainable option for SMEs to raise funds from the capital markets.
The platform has witnessed 235 companies getting listed, aggregating to total issuances of more than Rs 3,611 crore, the National Stock Exchange of India Ltd (NSE) said in a statement.
Understanding the importance of the role played by SMEs in the Indian Economy, NSE said, it has always been at the forefront of handholding, facilitating, and assisting the SMEs in this endeavour.
The regulatory framework offers the companies an option to migrate from the SME platform to the main-board platform upon fulfilment of specified criteria, as provided by the exchanges.
HEC Infra Projects Ltd is the 100th company to migrate from the SME platform to the main-board. The company is an EPC (Engineering, Procurement, and Construction) and SIRC (Supply Installation Testing & Commission) contractor in the field of electrical engineering.
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Vikram Limaye, MD and CEO, NSE, said that NSE Emerge has focused on developing an ecosystem for small and medium enterprises to access the capital markets for mobilising funds. Many companies have migrated from the SME platform to the main-board.
"We also actively engage with various government bodies, intermediaries, industry associations, as well as the SMEs, to spread awareness about the advantages of listing on the SME platform. We are committed to facilitating the SME's in their fund-raising efforts," he added.