BSE SME market cap exceeds $1 billion

The market capitalisation of companies listed on BSE SME platform crossed $1 billion mark on Friday.

The market capitalisation of companies listed on BSE SME platform has exceeded $1 billion mark, with the rate of Rs 60.18 per USD, as on Friday, BSE said in a statement.

As many as 55 companies are listed on BSE SME platform.

Average market capitalisation per company works out to be more than Rs 100 crore, which is similar to main Board companies on BSE, the release said.

BSE commenced the SME platform on March 2012. In over two- year period, BSE has achieved more than 90 per cent market share helping Indian SMEs create a market capitalisation of more than $1 billion. Average IPO size on BSE SME is close to Rs 9 crore per issue.

As of date, additional 14 companies are in the process of listing on BSE SME platform.

"BSE has been able to create an eco system for SME financing in India and $1 billion of market capitalisation for SME segment is an important milestone in this journey. BSE will continue to strive to help Indian SME and large cap companies to raise funds with its innovative and market leading E-IPO platform as well as the fastest trading system in India with 200 micro seconds response time," BSE MD and CEO Ashish Chauhan said.