With an aim to further strengthen the “BSE Startups platform”, a dedicated platform for listing of startups by BSE (formerly Bombay Stock Exchange), Asia’s oldest exchange, has signed a memorandum of understanding (MoU) with HDFC Bank. The MoU has been signed to spread more awareness on the benefits of listing on BSES Startups on this platform.
BSE had launched the Start Up platform on December 22, 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.
- Develop awareness of BSE’s Startup platform amongst HDFC Bank’s portfolio of startups. Also, extend value-added support for eligible startups, along with BSE for the listing
- Offer Banking and Lending solutions to eligible start-ups already listed or due-to-list on BSE Startup platform
- Ability to access capital via BSE’s Startup platform in turn will enable startups to access growth capital and enhance tradability of an otherwise illiquid/ high-risk investment asset class.
Commenting on the collaboration, Shri Ajay Kumar Thakur, Head BSE SME & Start Up said, “BSE is the first exchange to have launched the Start Up platform. The idea was to help entrepreneurs look beyond the conventional channels of raising capital and enable them to list on the stock exchange to further enhance the credibility of the firm. While we have conducted numerous seminars in Tier 1, 2 and 3 cities on the benefits of listing on the BSE Start Up 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.”
Commenting on the association, Ms Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank, “This is part of our commitment to the larger cause of strengthening the Startup community/ecosystem in the country. Startups are today reimagining 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”.
Established in 1875, BSE is India’s leading exchange group and now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised 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.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful.