SMEs Raise Rs 11,000 Crore Through Capital Markets
The combined market capitalisation of these SMEs has surpassed Rs 1.6 lakh crore.
Small and Medium Enterprises are progressively seeking funding through capital markets, with 780 SMEs listed on the NSE and BSE as of June 2023, according to a senior official on Wednesday. These companies have collectively raised around Rs 11,000 crore.
Furthermore, the combined market capitalisation of these SMEs has surpassed Rs 1.6 lakh crore, stated Shekhar Chaudhary, the director of the financial markets division at the Department of Economic Affairs.
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 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 mentioned that within the social enterprise sector, nine NGOs have successfully raised Rs 12 crore via a social exchange platform. Approximately 100 NGOs are now registered with the NSE and BSE, gearing up for future fundraising efforts.
Additionally, West Bengal represents 5% of the total Assets Under Management , placing it among the top 10 states for per capita penetration. Moreover, Kolkata ranks as one of the top five cities in terms of AUM contribution.
Kamala K, the chief regulatory officer of BSE India, has stated her belief that capital markets will play a crucial role in India's progress towards becoming a developed country by the year 2047.
(With PTI Inputs)
