 "BSE to launch SME Exchange operations from Nov")
Mumbai: The much-awaited BSE SME Exchange from the nation’s premier bourse, today said it will commence trading in the first week of November following the approval received from market regulator Sebi.
Sebi yesterday granted permission to the BSE to launch its much-touted SME Exchange that will offer a platform to small and medium companies to raise funds from the primary as well as debt markets.
[caption id=“attachment_95038” align=“alignleft” width=“380” caption=“The BSE’s SME Exchange expects to start with listing of 10-15 small and medium companies. Reuters”]
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The development comes even as its principal rival NSE that has walked away with volume and profits in equities and derivatves market, is awaiting the formal Sebi approval from the market watchdog.
“We are awating the final apporaval from the Sebi (for the SME platform) NSE Joint Managing Director Chitra Ramakrishna said.
The privately-promoted MCX Exchnage, whose licence approval is pending with the Bombay High Court, is also interested in launching an SME platform as and when the approval for the main exchange comes in.
The BSE’s SME Exchange expects to start with listing of 10-15 small and medium companies. “We are of hopeful of listing of 50-60 companies on the exchange by March 2012 and 100-200 companies every year,” Gugulothu said.
Since there is no need for Sebi approval for the IPOs of SME companies, all Sebi-registered merchant bankers and exchange will process the documents prior to the listing, he said.
PTI