In a bid to support the Small and Medium Enterprises (SMEs), the Bombay Stock Exchange (BSE) has decided to bring down its annual listing fee on the BSE SME platforms by 25 per cent, Asia's oldest exchange said in a statement.
In a press release, BSE said the revised listing fee structure will be applicable for the existing companies as well as all the firms awaiting to be listed on the exchange.
"The fee rebate has been declared post Honourable Finance Minister Nirmala Sitharaman's several announcements to rescue the ailing micro, small, and medium enterprises of the country," BSE said.
Commenting on the revised annual fee structure on BSE SME platform, Ajay Thakur, Head - BSE SME & Startups said, "Currently India is going through an unprecedented crisis caused by pandemic COVID-19. In these challenging times, it is our responsibility to support the SMEs which is the backbone of our economy. We hope that these measures along with the bold steps taken by the government will help in reviving the SMEs and also encourage thousands of SMEs to go for listing."
BSE was the first exchange to launch the BSE SME Platform in 2012 in a bid to help SMEs raise funds via dilution of their equity.
Overall, there are 322 companies listed on BSE SME Platform and 79 companies, which have migrated to the main board. The 322 companies have raised Rs 3,278.84 crore from the market and total market capitalisation of these companies as on May 17, 2020 is 15,865.39 crore.
On BSE Startups platform, there are 5 firms listed that have raised Rs 19 crore from the market and total market capitalisation of these companies stood at Rs 76.09 crore as on May 17, 2020, it added.
By Chitranjan Kumar