Media Release
Advait Infratech Limited
Three Hundred and Twenty Sixth Company to get listed on BSE SME Platform
Mumbai, September 28, 2020: 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.
Advait Infratech Limited became the 326th company to get listed on the BSE SME Platform on September 28, 2020. Advait Infratech Limited came out with an initial public offering of 1,350,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash At a Price of Rs. 51 Per Equity Share (The “Offer Price”), Aggregating to Rs. 6.89 Crores. The company has successfully completed its public issue on September 18, 2020.
Advait Infratech Limited is into business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields. The company operates with various verticals such as Turnkey Telecommunication Projects, Installation of the Power Transmission, Sub Station and Telecom Products, Liasioning-marketing and providing end to end solutions for the overseas customers operating in the Field Power Transmission and Sub Station, Trading of the similar products, and manufacturing through OEM of the stringing Tools (Capital items for construction of Electrical Transmission Projects). Based in Ahmedabad, India – the business hub of Gujarat, Advait was found in the year 2008 achieving substantial growth in a short span of a year.
They have nationwide footprints through affiliated team members in Ahmedabad, Baroda, Delhi, Mumbai, Hyderabad, Kolkata and Chennai.
Mumbai - based ISK Advisors Private Limited was the lead manager to Advait Infratech Limited.
The 325 companies listed on BSE SME Platform have raised Rs. 3,340.36 crore from the market and total market capitalization of 325 companies as on September 28, 2020 is 20,350.31 Crore. BSE is the market leader in this segment with a market share of 61 percent.
The response since the launch of this platform by BSE has been very positive till date.
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 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 & 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. 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 Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
Media Contact:
Yatin Padia / Rahul Vyas/ Shruti Nitesh
022 2272 8516 / 2272 8472/ 8108000974
Yatin.padia@bseindia.com/ Rahul.vyas@indiainx.com/ shruti.nitesh@adfactorspr.com