The Small and Medium Enterprises (SME) Exchange promoted by the Bombay Stock Exchange (BSE) is expected to begin operations in December. It would share a common platform and infrastructure with BSE and already about 40 companies have confirmed participation and are now working on their initial public offerings, according to Mr Lakshman Gukulothu, Chief Executive Officer of the upcoming Exchange.
There are 30 million SMEs in the country and about one million of them had the potential to get listed in the near future. A good number have started negotiations with merchant bankers and market makers and about 30 of them are in advanced stage of negotiations. The new Exchange is keen on bringing more SMEs into it and will seek to create awareness in tier-II and tier-III cities soon, he told press persons here on Tuesday.
He was in the city to address a seminar on SME Exchange-Opportunities Forward organised by Madurai District Tiny and Small Scale Industries Association and Tamil Nadu Small and Tiny Industries' and Association -Freiedrich Naumann Foundation (Germany) Centre, Chennai.