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The NSE has signed a memorandum of understanding with the Andhra Pradesh government to prepare the micro, small and medium enterprises (MSMEs) in the State to tap the equity market for growth capital.
The State government will facilitate MSMEs to get listed on the NSE Emerge platform by bearing the listing expenses. The government will also create a funding mechanism to encourage investors to buy equity listed on the exchange platform. Over 80 companies are listed on the NSE’s SME platform.
The MoU was signed on Tuesday at an event inaugurated by Andhra Pradesh Chief Minister N Chandrababu Naidu to celebrate the International MSME Day. Ravi Varanasi, Chief Business Development Officer, NSE, said the exchange and the AP government will conduct joint awareness sessions, in coordination with the District Industries Centres and local associations in various SME clusters of the State, to explain the benefits of listing to entrepreneurs.
The NSE will handhold the SMEs through the listing process, thereby facilitating capacity-building for the MSMEs.
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