BSE launches start-ups platform close on heels of new SEBI norms

SME listing has been on the upswing during a year in which others had seen drying up of Initial Public offerings (IPO).
For representational purposes (File | Reuters)
For representational purposes (File | Reuters)

MUMBAI:  In order to help tech entrepreneurs and start-ups in raising money, the Bombay Stock Exchange on Saturday launched its start-up platform ‘BSE Startups’ in collaboration with Cornerstone Ventures Investment Advisers LLP and Venture Catalysts Private Ltd. Markets regulator Securities and Exchange Board of India (SEBI) had recently announced relaxations to encourage start-ups to list.

Some of the areas BSE said would benefit from the collaboration are IT, ITeS, biotechnology and life sciences, 3D printing, space technology, e-commerce, hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics and genetic engineering.

“Indian youngsters need to get involved in creating more start-ups and raise funds from other Indians using BSE Startups platform,” said Ashishkumar Chauhan, MD & CEO, BSE.BSE had incubated around 200 companies and helped them raise money, Chauhan said, speaking at an investment bankers’ conference recently. “We are capital-raising platform, we are wealth-creating platform … We have an incubator at BSE, on 18th floor of BSE,” he said.

SME listing has been on the upswing during a year in which others had seen drying up of Initial Public offerings (IPO). IPOs in the segment have raised `1,500 crore compared to `800 crore last year, SEBI chairman Ajay Tyagi had pointed out this week.

On Friday, Deccan Healthcare raised `42 crore in an SME IPO, an exception in a tough market. 
Mahavir Lunawat of Pantomath Capital, who specialises in SME IPOs as an investment banker, said they do have a good pipeline of issues that are looking to hit the market in the near future.

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