Government of Telangana, NSE sign MoU to fuel growth of MSMEs
Hyderabad: The Government of Telangana and the National Stock Exchange of India (NSE) have signed a Memorandum of Understanding (MoU) to help MSMEs grow in the State. The MoU was exchanged between Hari K, chief business officer, NSE and Jayesh Ranjan, principal secretary, Industries and Commerce Department, Government of Telangana, in the presence of KT […]
Hyderabad: The Government of Telangana and the National Stock Exchange of India (NSE) have signed a Memorandum of Understanding (MoU) to help MSMEs grow in the State.
The MoU was exchanged between Hari K, chief business officer, NSE and Jayesh Ranjan, principal secretary, Industries and Commerce Department, Government of Telangana, in the presence of KT Rama Rao, Minister of Municipal Administration & Urban Development, ITE&C, Industries and Commerce, Government of Telangana, in Hyderabad.
As part of the MoU, NSE with the support of the Government of Telangana 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 handhold the companies in listing process.
On its part, the Government of Telangana will facilitate MSMEs to get listed on the NSE Emerge, by considering ways to reimburse percentage of expenses incurred on raising of funds, with a pre-defined upper limit to encourage the MSMEs to opt for raising of capital through SME Exchanges. Telangana Government will also explore the possibility of setting up a government sponsored equity participation fund to invest in the fast-growing SMEs in the State, on the Exchange platform.
K T Rama Rao, Minister of Municipal Administration & Urban Development, ITE&C, Industries and Commerce, Government of Telangana said, “Telangana State is in the forefront of taking initiatives to help the MSMEs from the State to grow as large business. This collaboration will help the MSMEs to raise funds through capital markets via an IPO and get benefited as a listed entity”.
Jayesh Ranjan, principal secretary, Industries and Commerce Department, Government of Telangana said, “Government of Telangana has been at the forefront to provide ease of business for the MSMEs. To strengthen our stance, Government of Telangana has signed an MoU with the National Stock Exchange of India to enable SMEs to list on the NSE Emerge platform to raise capital in an efficient manner and scale up their business to compete globally.”
Hari K, chief business officer, NSE said, “National Stock Exchange and Government of Telangana have joined hands to actively collaborate to support the SMEs of the State to list on the NSE Emerge platform. NSE Emerge provides access to SMEs to list on the stock exchange and raise capital in an efficient manner. We, at NSE would handhold the SMEs through the listing process, thereby empowering them to achieve next level of growth.”
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