NSE and Government of Uttarakhand team to strengthen SMEs in the state

By Gloria Mathias

The National Stock Exchange (NSE) and the Government of Uttarakhand have signed an MoU to spread awareness amongst MSMEs in the state for fundraising via the IPO mechanism using the NSE SME Platform Emerge.

As part of the understanding, NSE, with the support of the Government of Uttarakhand, will conduct awareness drive-through seminars, MSME camps, knowledge sessions, road shows, and workshops to guide corporates across the state for fundraising on the NSE Emerge platform and handhold the companies in the listing process.

In addition to the customary bell-ringing ceremony, a meeting was held among the Uttarakhand government and NSE officials in the presence of Chief Minister Shri Pushkar Singh Dhami and Shri Ashishkumar Chauhan, Managing Director and CEO of NSE.

During the meeting, various issues, including the launch of sustainability-linked bonds and green bonds, outcome funding on the Social Stock Exchange (SSE), generating employment opportunities for rural and urban youth, and opportunities in the sector of Power Trading and investor awareness sessions across the state, were discussed.

Chief Minister Shri Pushkar Singh Dhami, Government of Uttarakhand said, “I congratulate the Directorate of Industries (MSME) of the Government of Uttarakhand for signing a MoU with the National Stock Exchange to encourage and support the MSMEs of our state and enabling them to pursue the capital market for growth opportunities. As a part of the MOU, we shall jointly conduct awareness sessions for the MSMEs to help them understand the process of fundraising, the benefits of listing on the stock exchange, and providing financial literacy programs for youth of the state. We envision the launch of Sustainability Linked Bond / Green Bond for infrastructure projects.”

Ashishkumar Chauhan, MD & CEO, NSE said, “NSE Emerge enables SMEs to raise capital in an efficient manner, increase their visibility through the listing on the stock exchange in collaboration with the government, and provide a walk-through of the fund-raising process. We look forward to a long-term association with the Government of Uttarakhand for exploring new opportunities under financial market development activity.”