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Small and Medium Enterprises (SMEs) are increasingly turning to the capital markets for funding, with 780 SMEs listed on the NSE and BSE as of June 2024, a senior official said on Wednesday, adding that these companies have raised approximately Rs 11,000 crore.
The combined market capitalisation of these SMEs now exceeds Rs 1.6 trillion, Shekhar Chaudhary, director of the financial markets division at the department of economic affairs, said.
Speaking at the 10th edition of the CII (East) Capital Markets Conclave, Chaudhary emphasised the vital role capital markets play in India's economic growth and development.
A report on SME Initial Public Offerings (IPOs) was released during the event. Experts discussed how capital markets could drive India's economic future by empowering SMEs to make significant contributions to the country's GDP, a statement said.
Chaudhary also noted that in the social enterprise sector, nine NGOs have raised Rs 12 crore through a social exchange platform. Around 100 NGOs are currently registered with the NSE and BSE, preparing for future fundraising, he added.
West Bengal accounts for 5 per cent of the total AUM, ranking among the top 10 states in terms of per capita penetration. Kolkata is among the top five cities for AUM contribution, he added.
Kamala K, chief regulatory Officer of BSE India, expressed confidence that capital markets will be a key driver in India's journey toward becoming a developed nation by 2047.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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