Bombay Stock Exchange (BSE) has said that “It has signed a Memorandum of Understanding (MoU) with HBF Direct Ltd, to encourage and promote the listing of MSMEs and Startups across India.
HBF Direct Limited is a management consultancy company and offers advisory services to SMEs and corporates in the areas of Corporate Finance & Legal Advisory, Fundraising and IPO Advisory, HR Management, and Business consultancy.
Through this MoU, HBF Direct Ltd shall assist BSE in evaluating SMEs and Start-ups for listing on BSE SME and Startups Platform and shall also refer curated SMEs and Start-ups to BSE for listing on BSE SME and Startups Platform.
Further, HBF Direct Ltd and BSE shall host joint roadshows and events across India for creating awareness and to promote the listing of SMEs and Startups on the BSE SME and BSE Start-ups platform.
Speaking on the partnership, Ajay Thakur, Head of BSE SME & Startups, said, “At a time when small businesses are slowly recovering from the economic impact of Covid-19, equity funding can be of paramount importance. By leveraging the existing client base of HBF Direct Ltd, this MoU will help us in reaching out to SMEs and Start-ups across diverse sectors and shall also open up future possibilities of a collaborative effort to increase the awareness around benefits of listing amongst SMEs and Start-ups spread across India, thereby enabling more and more businesses to avail benefits of equity financing.”
Commenting on the partnership, Sachin Sheoran, CEO, HBF Direct Limited said, “With businesses becoming more connected and more Companies willing to expand and grow exponentially to meet the demand of time and to keep up in this race of globalization, BSE Ltd and HBF Direct Ltd partnership will bring together deep knowledge and expertise along with years of experience in IPO listing and business consulting to support Startups and SMEs across the country to educate and encourage in becoming a listed company without any hassle.”
“My vision and mission are to get the maximum number of Startups and SMEs to be listed on the platform in coming years and support the whole business ecosystem,” Sheoran added.
BSE was the first stock exchange to get approval from SEBI and had launched its SME platform on 13th March 2012. So far 356 companies listed on the BSE SME Platform have raised Rs 3782.30 crores from the market and the total market capitalization of 356 companies as of December 07, 2021, is Rs 41,758 crores, out of which 125 companies have migrated to BSE Main Board. BSE is the market leader in this segment with a market share of 61 percent.