BSE inks pact with HDFC Bank to give a boost to the Startups platform
Mumbai, April 08, 2019: With an aim to further strengthen the BSE Startups platform, BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds, has signed a memorandum of understanding (MoU) with HDFC Bank. The MoU has been signed to spread more awareness on the benefits of listing on BSE Startups on this platform.
BSE had launched the Start Up platform on December 22, 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.
Benefits
· Develop awareness of BSE's Startup platform amongst HDFC Bank's portfolio of startups. Also, extend value-added support for eligible startups, along with BSE for the listing
· Offer Banking and Lending solutions to eligible start-ups already listed or due-to-list on BSE Startup platform
· Ability to access capital via BSE's Startup platform in turn will enable startups to access growth capital and enhance tradability of an otherwise illiquid/ high-risk investment asset class.
Commenting on the collaboration, Shri Ajay Kumar Thakur, Head BSE SME & Start Up said, “BSE is the first exchange to have launched the Start Up platform. The idea was to help entrepreneurs look beyond the conventional channels of raising capital and enable them to list on the stock exchange to further enhance the credibility of the firm. While we have conducted numerous seminars in Tier 1, 2 and 3 cities on the benefits of listing on the BSE Start Up platform, we believe by associating with a leading bank like HDFC that boasts of a large network, presence and Start up base would enable more firms to choose our platform and raise funds as well as improve productivity.”
Commenting on the association, Ms Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank, “This is part of our commitment to the larger cause of strengthening the Startup community/ecosystem in the country. Startups are today reimagining and reshaping the world we live in. We are already partnering with them by mentoring them and giving them a chance to work with us. We are extremely happy to reinforce our commitment to them through this partnership with BSE”.
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.
About HDFC Bank
With 43 million customers, 5000 branches and 13,160 ATMs across 2,727 Indian towns and cities, HDFC Bank is one of India’s premier banks. Promoted by Housing Development Finance Corporation (HDFC), India's leading housing finance company in 1995, the Bank is widely regarded for its use of technology and ability to provide world-class services. Over the past 24 years, it has successfully gained market share in its target customer franchises, even as it maintained healthy profitability and asset quality.
The Bank’s achievements have been consistently recognised in numerous prestigious surveys and awards. The latest in the coveted list being Bank of the Year and Best Large Bank awards in the Business Today India’s Best Banks Survey, 2019.
For information please log on to: www.hdfcbank.com
For media queries please contact:
Rajiv Banerjee
Vice President, Corporate Communications,
HDFC Bank Ltd, Mumbai.
Tel: 9 -22-66521307 (D)/6652 1000 (B)
Mobile: 09920454102
rajivshiv.banerjee@hdfcbank.com
Yatin Padia / Rahul Vyas
022 2272 8516 / 2272 8472
yatin.padia@bseindia.com/rahul.vyas@indiainx.com