NSE, Odisha Govt ink pact to facilitate fund raising for SMEs in the State

TBB BUREAU

BHUBANESWAR, DEC 1, 2022

India’s leading stock exchange, the National Stock Exchange (NSE) and the Government of Odisha have signed a Memorandum of Understanding (MoU) to spread awareness amongst MSMEs of the state regarding fund raising by IPO mechanism using NSE SME Platform – Emerge.

The MoU was exchanged between Government of Odisha and National Stock Exchange, Mumbai, here on Thursday. As part of the understanding, NSE with the support of the Government of Odisha, will conduct awareness drive through seminars, MSME camps, knowledge sessions, road shows, workshops to guide corporates across the state for fund raising on NSE Emerge platform and also handhold the companies in the listing process.

“Today, at Make in Odisha Conclave 2022, we have signed a MoU with the National Stock Exchange to support the MSMEs and enable them to pursue the capital market for growth opportunities. MSMEs of the state would be able to present their business to a wider set of investors through NSE Emerge and attract capital investments. We shall jointly conduct awareness sessions on the entire process of fund raising and the benefits of listing on the stock exchange,” Satya Priya Rath, Director, Budget & Nodal Officer, MIO, Finance Department, Government of Odisha.

“Government of Odisha and National Stock Exchange have entered in a MoU to collaborate and support the growth of MSMEs via NSE Emerge, an alternative fund-raising platform for MSMEs. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange.  We shall organize awareness sessions for MSMEs of the state in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the state MSMEs to come forward and avail the new source of financing through NSE Emerge,”  said Ashishkumar Chauhan, MD & CEO, NSE.

NSE’s SME Emerge platform, currently has 283 companies from various sectors, listed. Total funds raised on the platform till date is over Rs 4,670 crore.