BSE signs MoU with HDFC Bank to promote listing of Start-ups and SMEs
Mumbai, 2nd November 2021: BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, today signed a MoU with one of India’s largest private sector bank, HDFC Bank to further encourage and promote listing of Start-ups and SMEs across India.
Through this MoU, HDFC Bank and BSE shall evaluate banking & lending solutions for Start-ups undergoing listing process on Start-ups and SME platform. HDFC Bank will identify potential Start-ups and SMEs and help them to partner with intermediaries like Merchant Bankers, Chartered Accountants and Lawyers to list on BSE. Both the parties have agreed to conduct and participate in joint outreach activities and contribute to each other’s publications on the Start-up ecosystem in India.
Commenting on the association, Shri Ajay Thakur, Head, BSE SME & Start-ups, said “Through this MoU we aim to resolve funding constraints for Start-ups and SMEs in India. BSE along with HDFC Bank shall work together to create a sustainable ecosystem for Start-ups and SMEs.”
“Startups are reimagining and reshaping the world we live in. At HDFC Bank, we are committed to developing, strengthening and collaborating with the start-up community and ecosystem in the country. We are extremely happy to reinforce our commitment to them through this MoU with BSE, said Iqbal Singh Guilani, SVP, Retail Branch Banking, HDFC Bank.
BSE became the first stock exchange to get the approval from SEBI and had launched its SME platform on 13th March 2012. So far 353 companies listed on BSE SME Platform have raised Rs. 3731.81 crore from the market and total market capitalization of 353 companies as on October 29, 2021 is Rs. 38538 crores, out of which 117companies are migrated to BSE Main Board. BSE is the market leader in this segment with a market share of 61 percent.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds, Almond & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. ICCL is the only clearing corporation in India to have been granted "AAA" rating by two rating agencies, India Ratings Ltd. (Indian arm of Fitch Ratings) and Care Ratings Ltd. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the framework issued by the Ministry of Finance, Government of India and SEBI. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. The Exchange was inaugurated by Hon’ble Prime Minister of India, Shri Narendra Modi, on Jan 09, 2017 and commenced its operations from Jan 16, 2017.
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