Context:
The National Stock Exchange (NSE) has signed a memorandum of understanding (MoU) with the Uttar Pradesh government.
More On News:
- The MoU was signed to promote awareness among MSMEs to raise capital through public offerings.
- It was exchanged in Lucknow between, Managing Director of the Uttar Pradesh Small Industries Corporation (UPSIC) and the Senior Manager at the NSE.
- Under the MoU, the NSE will assist the Uttar Pradesh government in organizing awareness campaigns through seminars, MSME camps, knowledge sessions, roadshows, and workshops, aimed at helping businesses raise funds by launching SME IPOs on the NSE Emerge platform.
- NSE Emerge is a platform designed for small and medium enterprises (SMEs), providing them with an opportunity to list, raise capital, and enhance their visibility.
- It offers MSMEs access to public capital, along with opportunities for increased visibility and credibility.
- The Uttar Pradesh government has been working to create a supportive ecosystem for MSMEs to expand their businesses.
- As part of the MoU, the Uttar Pradesh government and NSE will collaborate to help MSMEs to better understand the process of listing on the stock exchange and the associated benefits.
- According to an NSE release, a total of 612 companies from various sectors have listed on the NSE Emerge platform, raising over Rs 17,003 crore collectively. The market capitalization of these companies is approximately Rs 1,76,565 crore.
