BSE Startups Platform partners HDFC Bank to raise awareness on benefits of listing
The BSE Startups Platform on Monday said it has signed a memorandum of understanding (MoU) with private sector lender HDFC Bank to spread awareness on the benefits of listing.
In December 2018, BSE had launched the platform with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion. The launch was in line with rules and regulations laid down by market regulator Securities and Exchange Board of India (SEBI).
The partnership aims to develop awareness of BSE's platform among HDFC Bank's portfolio startups. It also plans to offer banking and lending solutions to eligible startups already listed or due to list on the platform.
The partnership would further enable the startups to access capital via BSE's platform.
“BSE is the first exchange to have launched the Startups Platform. While we have conducted numerous seminars in Tier-I, Tier-II and Tier-III cities on the benefits of listing on the platform, we believe that an association with a leading bank like HDFC Bank, which boasts a large network, presence and startup 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.
Apart from the Startups Platform, BSE has a dedicated platform for trading in equities of small and medium enterprises (SMEs). BSE also has a dedicated mutual fund distribution platform called BSE StAR MF.
The startup platform generally considers startups across these categories: IT (information technology), biotechnology and life sciences, 3D printing, space technology, e-commerce, hi-tech defence, drones, nano-tech, and artificial intelligence. Other segments include Big Data, augmented reality, machine learning, e-gaming, and genetic engineering.
Smita Bhagat, country head, government, e-commerce and startups, HDFC Bank, said, “This is part of our commitment to the larger cause of strengthening the startup community/ecosystem in the country. We are extremely happy to re-inforce our commitment to them through this partnership with BSE.”