NEW DELHI: National Stock Exchange (NSE) has launched the operations of
its new trading platform for SMEs, Emerge, with the first listing of
Thejo Engineering in this segment.
Union Finance Minister P Chidambaram has launched the platform, along
with SEBI Chairman UK Sinha, the first company to get listed in NSE’s
Emerge segment.
After the launch, NSE Managing Director Ravi Narain said that the
exchange has been very careful in brining in only good-quality companies
on the platform and there was quite a decent number of companies
interested in getting listed.
However, he refused to divulge the exact number of the companies that NSE expects on the Emerge platform.
NSE's Joint Managing Director Chitra Ramkrishna said, “NSE would
provide all the required hand-holding to the Companies interested in
getting listed on Emerge.”
Initially, the turnover was likely to remain modest on the platform and
it was not driven by a revenue-earning model, Narain said.
The platform would help in developing the eco-system and provide the
small and medium enterprises (SMEs) a much-needed avenue to raise
capital from the equity market.
Narain also said that the Emerge platform was very different from
London Stock Exchange's AIM platform, as there have been no relaxations
in regulatory framework for such segments in India.
Replying to a query about the competition from BSE, whose SME platform
has already registered seven listed companies, Narain said that the NSE
would bring in innovation to its model.
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