BSE and Federal Bank join hands to promote listing of SMEs -; Startups

24 Mar 2022 , 02:40 PM

BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, signed an MoU with Federal Bank, a leading private sector Bank to promote listing of SMEs & Startups on the BSE, SME & Startup platform. The Bank and BSE shall evaluate SMEs and Startups undergoing listing process.

Ajay Thakur, Head — BSE, SME & Startups, said “We are excited to partner with Federal Bank and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing. It is yet another step in our endeavour to further penetrate the SME and Startup ecosystem and provide them the platform for equity financing.”

Harsh Dugar, Group President & Country Head — Federal Bank, Wholesale Banking- Corporate & Institutional Banking said “We are delighted to partner with BSE on the SME and startups space. As one of India’s foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector makes us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.”

Till date, 364 SMEs have been listed on the BSE SME platform and 14 companies have listed on BSE Startups platform.

At around 2.45 pm, Federal Bank Ltd was trading at Rs98.35 per piece down by Rs0.2 or 0.2% from its previous closing of Rs98.55 per piece on the BSE.