Innovative Ideals and Services (India) Limited
Two hundred and sixty seventh Company to get listed on BSE SME Platform
Mumbai, October 5, 2018: SEBI came out with detailed guidelines on 18th May, 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March, 2012.
Innovative Ideals and Services (India) Limited became 267th company respectively to get listed on the BSE SME Platform on 5th October, 2018. Innovative Ideals and Services (India) Limited came out with an initial public offering of 30,66,000 Equity Shares of Rs.10/- Each (“Equity Shares”) For Cash At a Price Of Rs. 40/- Per Equity Share(The “Offer Price”), Aggregating to Rs.’1226.4’ lacs. The company has successfully completed its public issue on September 26, 2018.
Innovative Ideals and Services (India) Limited is Maharashtra based company whose registered office is at Mumbai. It is engaged in the business of Security and electronics systems, such as, Video Door Phone, Audio Door Phone, Access Controls, Home Automation Systems, Intrusion Alarm Systems, CCTV Systems, Fire Alarm Systems and Telecom Products.
Mumbai based Pantomath was the lead manager for Innovative Ideals and Services Limited.
The 267 companies listed on BSE SME Platform have raised Rs.2660.56 crores from the market and total market capitalization of 267 companies as on 5th October, 2018 is 18,864.17 Crores. BSE is the market leader in this segment with a market share of 60 percent.
The response since the launch of this platform by BSE has been very positive and encouraging.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with 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 demutualised 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, 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 delivery-based futures contract in gold (1 kg) and silver (30 kg).
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. 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.
Media Contact:
Yatin Padia / Rahul Vyas
022 2272 8516 / 2272 8472
Yatin.padia@bseindia.com/Rahul.vyas@indiainx.com