Asia’s and India’s oldest stock exchange, Bombay Stock Exchange, has recently made an announcement that it has inked a memorandum of understanding (MoU) with HDFC Bank to spread awareness on benefits of listing on BSE’s startup platform. BSE had launched the startup platform on December 22, 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their business growth and expansion.
The Advantages of Bombay Stock Exchange and HDFC Bank association :-
1. It will provide big boost and will help spread awareness about BSE’s startup platform among HDFC Bank’s portfolio of startups. Also, extend value-added support and services for eligible startups, along with listing on BSE.
2. Hdfc bank will enable and provide support for banking and lending solutions to eligible startups already listed or due-to-list on the BSE Startup platform.
3. Greater Access to capital via BSE’s startup platform. It will motivate and encourage startups to raise growth capital and enhance tradability of an otherwise illiquid / high-risk investment asset class.
“This is part of our commitment to the larger cause of strengthening the Startup community/ecosystem in the country. Startups are today re-imagining and reshaping the world we live in. We are already partnering with them by mentoring them and giving them a chance to work with us. We are extremely happy to reinforce our commitment to them through this partnership with BSE,” said Smita Bhagat, country head – government, e-commerce and startups at HDFC Bank.
BSE is the first exchange to launch the startup platform. The main aim and goal of launching this startup platform was to help entrepreneurs look beyond the conventional channels of raising capital and enabling them to list on the stock exchange to further enhance the credibility of the company.
“While we have conducted numerous seminars in Tier 1, 2 and 3 cities on the benefits of listing on the BSE startup platform, we believe by associating with a leading bank like HDFC that boasts of a large network, presence and start up base would enable more firms to choose our platform and raise funds as well as improve productivity,” said Ajay Kumar Thakur, head, BSE SME and startup.
BSE is India’s leading and oldest exchange which was established in 1875, and now became the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE has played a dominant role in developing the Indian capital market from the scratch. BSE is a Independent and Corporate entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Bombay Stock Exchange also has a dedicated platform for trading in equities of small and medium enterprises (SMEs).