NOIDA: In a bid to give Noida's small and medium-scale enterprises (SMEs) a push for growth and expansion, representatives of Bombay Stock Exchange's SME division on Thursday interacted with the Indian Industries Association (IIA), explaining to its members how the city's SMEs should get equity listed on the BSE.
Ajay Thakur, head, BSE-SME, explained to the industrialists gathered at the IIA event: 'Avenues for Raising funds for SMEs', how raising funds through equity is increasingly becoming feasible for the sector.
"It is a feasible route for SMEs to procure funding through equity listing and it can take an SME to take the IPO route and go to a new level of growth," Thakur told the gathering comprising IIA members from Noida and Greater Noida.
At present, Noida has close to 9,000 SMEs operating out of its industrial sectors and SEZ region. About 177 SMEs across the country are registered with the BSE-SME platform, with 18 of them having migrated to the main board over the past five years.To get listed with the BSE-SME division, an enterprise has to have net worth of at least Rs 5 crore.
Joining the event later in the evening, Noida MLA Pankaj Singh assured the city's industrialists that Noida would be developed as a digital and cashless economy with maximum drive for ease of doing business.
Source: timesofindia.indiatimes.com