It’s raining IPOs on the SME segment of India’s bourses — the NSE and the BSE.

On September 30, seven IPOs on the NSE and five on the BSE are opening for subscription.

The issue sizes on the NSE range from ₹3.86 crore to ₹14.80 crore. These SMEs are based out of cities such as Jaipur, Ahmedabad, Kolkata and Mumbai. The companies cover sectors such as textile, pharma, breweries, real estate and logistics.

Collectively, these firms are estimated to garner ₹70 crore. The funds raised through these issues would be used for expansion, working capital requirements and other general corporate purposes.

Ravi Varanasi, Group Head – Equity, Equity Derivatives & SME, NSE, said, “We have been going to different industrial cluster to make entrepreneurs aware of benefits of fund-raising through the exchange platform. We are hand-holding them throughout the process. NSE EMERGE helps SMEs in their growth phase to meet funding requirements in a transparent manner”. At present there are 42 companies listed on the SME Emerge platform.

Meanwhile, while two SMEs made their debut on Thursday, on the BSE

Source: The Hindu Business line