BSE and Federal Bank comes together to advance listing of SMEs and Startups
Federal Bank is an Indian private sector bank with a network of 1,291 banking outlets and 1,882 ATMs/ Recyclers spread across the country.
BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, signed an MoU with Federal Bank, a leading private sector Bank to promote listing of SMEs & Startups on the BSE, SME & Startup platform. The Bank and BSE shall evaluate SMEs and Startups undergoing listing process.
Remarking on the affiliation, Ajay Thakur, Head of BSE, SME and Startups, said: "We are excited to partner with Federal Bank and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing. It is yet another step in our endeavour to further penetrate the SME and Startup ecosystem and provide them the platform for equity financing.."
Shri Harsh Dugar, Group President and Country Head - Federal Bank, Wholesale Banking-Corporate and Institutional Banking, said: "We are more than happy to band together with BSE on the SME and Startups space. As one of India's principal tech-drove banks, this is an area of sharp concentration for us. Our full-stack item suite and our profound comprehension of this area go with us as a financier of decision to the SME biological system, and we are sure of critical cooperative energies that both our establishments can get from this association."
Till date 364 SMEs have listed on the BSE SME platform and 14 companies have listed on BSE Startups platform and it’s only progressing through.