National

Telangana joins hands with BSE, GlobalLinker

Our Bureau Hyderabad | Updated on October 20, 2020 Published on October 20, 2020

Jayesh Ranjan, Principal Secretary, Telangana

Move to help small and medium enterprises raise equity funds

The Telangana government along with GlobalLinker, has signed an MoU with the Bombay Stock Exchange to help MSMEs raise equity funds.

The Industries & Commerce Department had introduced Telangana State GlobalLinker portal to digitise MSMEs of the State and help them with their business growth.

To address challenges that MSMEs face in their day to day operations, Telangana offers various benefits on the portal like – free e-commerce store with a payment gateway and logistics capabilities integrated, opportunity for buyers and sellers to connect with each other, support exports and more.

Access to finance

The partnership with BSE is to address a vital challenge of access to finance and increasing credibility of the MSME. BSE will provide intellectual & manpower support to create awareness about the importance and benefits of listing.

State Principal Secretary Jayesh Ranjan in a statement said, “We are pleased to partner with BSE, as this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state. The state has taken various initiatives to provide the required support for MSMEs to expand their operations and become inspiring examples for others to follow. Currently there are very few MSMEs registered on the stock exchange from Telangana and we would like to see these numbers grow soon.”

Sameer Vakil, Co-founder & CEO, GlobalLinker, said, “The arrangement with BSE SME will help Telangana State GlobalLinker members plan their capital raise and better prepare them in improved management of their businesses in time to come.”

Ashishkumar Chauhan, MD & CEO, BSE, said “Through this association, MSMEs of the state can have access to equity financing opportunities to grow their business from expansion to acquisition.”

Ajaykumar Thakur, Head BSE SME & Startups, said, “MSMEs are the backbone of the economy and therefore their growth is prerequisite for the growth of the state and the country. This association will help in creating greater awareness about benefits of listing amongst MSMEs of Telangana. We are hopeful that this initiative will help in getting a lot of SMEs from the State listed on the BSE SME Platform which will contribute to their growth and generate employment.”

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Published on October 20, 2020
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