- By Kamakshi Bishnoi
- Thu, 17 Apr 2025 11:13 AM (IST)
- Source:JND
The National Stock Exchange (NSE) and the Uttar Pradesh government have signed a Memorandum of Understanding (MoU) to facilitate fundraising for Micro, Small, and Medium Enterprises (MSMEs). This agreement is expected to benefit approximately 96 lakh MSME units in the state.
The MoU will provide these units with access to equity markets and raise awareness about raising funds through Initial Public Offerings (IPOs). Under Uttar Pradesh's MSME Policy 2022, units listed on the stock exchange receive financial assistance of Rs 5 lakh.
The NSE will conduct seminars, MSME camps, roadshows, and workshops to help companies list on the NSE Emerge platform. Alok Kumar, Principal Secretary of the MSME Department, stated that efforts are being made to further promote MSMEs, given the global investment opportunities in this sector.
This agreement will enable MSME units in Uttar Pradesh to access capital markets and raise funds through IPOs. Sriram Krishnan, Chief Business Development Officer at NSE, mentioned that 612 companies from various sectors have already listed on the NSE Emerge platform, raising over Rs 17,003 crore.
The total market capitalisation of these companies is approximately Rs 1,76,565 crore. The MoU was signed by Raj Kamal, Managing Director of UPSIC, and Nidhi Maheshwari, Senior Manager at NSE.