This was higher than 37 SMEs raising a total of Rs 271 crore in 2014-15.
"The number of firms that filed their draft prospectus as also those getting listed on SME bourses is increasing every year and that trend is expected to continue in 2016-17 as well," Pantomath Group Managing Director Mahavir Lunawat said.
A total of 44 firms made debut on the SME platform in 2015-16 while a total of 66 companies filed their draft prospectus in the past fiscal to raise funds through an initial public offering (IPO).
The funds raised through the issue were used for business expansion plans, working capital requirements and other general corporate purposes.
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According to market experts, an increasing number of firms logging into SME exchanges sends positive signals and lends a lot of confidence to SME capital markets.
"The financial year 2015-16 witnessed a very encouraging participation from SMEs. The number of companies getting listed on SME platforms increased despite tightening of norms," Lunawat said.
However, the number of companies engaged in financial services declined due to tightening of eligibility norms by BSE, he added.
BSE and NSE had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country. Since then, several companies have got listed on them and some have even shifted to the mainboard.
The platform provides opportunity to SME entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.