Media Release
BSE and UPICON sign MoU to promote listing of SMEs across Uttar Pradesh
Mumbai, January 10, 2024: BSE Limited, Asia’s oldest stock exchange, and UPICON (UP Industrial Consultants Limited) have signed a Memorandum of Understanding (MoU) to promote listing of SMEs across Uttar Pradesh on BSE SME Platform.
As a part of MoU, UPICON shall assist BSE in creating awareness among SME's based in Uttar Pradesh about the benefits of listing in BSE SME Platform. UPICON will appoint a nodal officer to guide, review, monitor and provide overall direction in implementation of the scope.
BSE will provide training and knowledge support to UPICON and its officials. BSE will appoint a nodal person as single point contact in Uttar Pradesh for providing end to end solution and facilitating SMEs with respect to registration/listing on the platform.
The Uttar Pradesh MSME (Micro, Small, and Medium Enterprises) Policy encourages MSMEs to grow and expand, including exploring opportunities for stock exchange listing. UPICON has taken a significant step to promote the growth of Micro, Small, and Medium Enterprises (MSMEs) in the state by signing a Memorandum of Understanding (MoU) with the BSE-SME platform. This partnership will empower MSMEs in UP by enabling them to access equity markets and expand business horizons.
Commenting on the MOU, Mr. Pravin Singh, Managing Director, UPICON said ``This collaboration marks a major milestone in strengthening the MSME ecosystem in Uttar Pradesh. Through this MoU, we aim to equip MSMEs with the necessary tools and support to list their businesses on the BSE-SME platform, providing them with access to equity capital and improved market visibility. A dedicated support center will be established to help MSME's with all aspects of the listing process.’’
Commenting on the MOU, Shri Sundararaman Ramamurthy, MD & CEO, BSE said, “Through this partnership with UPICON, BSE reiterates its commitment to enhancing knowledge and promoting awareness about the advantages of listing on the exchange. We believe platform will give opportunity to attract quality SMEs across Uttar Pradesh to raise equity capital, create visibility and innovation. BSE’s SME Platform provides a one-stop solution for fostering vibrant and sustainable growth in the SME ecosystem.
The MoU aligns with the Uttar Pradesh Government’s vision of making the state a hub for MSME innovation and growth. With over 90 lakh MSMEs contributing significantly to the state's GDP, this initiative will enable these enterprises to scale up, create employment, and contribute to Uttar Pradesh’s economic development.
About BSE
BSE, India’s leading exchange group is celebrating its 150th year anniversary. BSE has been playing a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds, stock lending and borrowing.
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