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GREX is touted as the country’s first stock exchange for unlisted startups, which is scheduled to be launched in July 2015.
The move aimed at creating an alternative funding option for startups and more exit options for investors who back risky ventures. GREX will also encourage the public to participate and contribute to the growth of startups.
“GREX is designed to be an integrated platform not only for capital needs but also for naturally providing visibility and access to companies. There is substantial latent appetite for these high growth companies as investment opportunity among private investors,” said Manish Kumar, chief executive officer of GREX.
“For this market to be vibrant, it needs information sharing, transparency and ease of doing transactions. We, therefore, worked with various capital market infrastructure players to develop a system that integrates the entire capital market ecosystem into one platform,” he added.
According to Safir Adeni, president of TiE’s Hyderabad chapter, and MD, Ineda Venture Group, platforms such as GREX will enhance the ecosystem in terms of helping startups achieve collective progress in creating highly-successful startups in the country.
