India’s largest bourse, National
Stock Exchange, is witnessing a flurry of listings on its SME platform in
August. Companies from Nagpur and Indore have got listed on NSE’s Emerge and
Emerge ITP platform. A day ago Capco Industries got listed on emerge ITP,
Nagpur based Emkay Taps And Cutting Tools Limited lists on NSE’s Emerge
platform today while Mohini Fibers lists on 17th on NSE’s ITP.
Emkay Taps and Cutting Tools Limited (ETCTL) that
manufactures various types of taps and machine tools got listed on the SME
platform of National Stock Exchange - EMERGE today. ETCTL entered capital
market with its maiden initial public offering (IPO) of 471200 equity shares of
Rs 10 each aggregating to Rs.15.54 crore. The issue opened for subscription on
July 27th, 2015 at a fixed price band of Rs 330 per share and closed for
subscription on July 30th and was oversubscribed 1.39 times. ETCTL
is the 1st company from Vidharbha region and 8th company overall to list on
EMERGE platform of NSE.
NSE’s Emerge ITP platform has also added another company; Indore based Capco Industries Limited on August 12, 2015. Established in 2007, the company manufactures fabricated tanks used for Fuel and Hydraulic oil for equipment's of construction, automotive, agricultural and engineering industries.
Emerge ITP will also list Indore based Mohini Fibers Limited on August 17, 2015, taking the count on the platform to 18 companies.
Mohini Fibers, founded in 2009, recylces soft cotton waste to improve the quality of the product. It deals in surgical cotton rolls, cotton balls, cotton wool rolls, absorbent cotton rolls, cotton pads and cotton waste.
NSE launched the SME platform ‘Emerge’ in September 2012 and EMERGE ITP was launched in December 2013.
National Stock Exchange, India’s leading stock exchange has made intensive efforts over the years to educate SME’s about the benefits of raising funds through its SME Platform – EMERGE, by issuing an IPO. The platform helps entrepreneurs to raise capital for their growth and innovation and helps the companies to unlock value for its early investors to find an efficient exit.
NSE also presents an alternative capital expansion route like the Institutional Trading Platform (ITP). ITP is an exclusive platform for start-ups and growing companies to list and showcase their performance to their lenders and potential investors, without an IPO (Initial Public Offer). Here companies can raise funds through rights or placement issues.
The criterion for getting listed on Emerge: Companies with a post-issue paid up capital of less than 25 crores and they have to have a track record of 3 years, positive cash accruals for 2 years and positive net worth to be eligible.
The criteria for listing on ITP, without an IPO, is that the company should not have been incorporated for more than 10 years; one year’s audited financial statement, revenues of less than 100 crores and paid up capital of less than 25 crores. It should have existing investors and lenders to be eligible to list on ITP. Along with the ITP segment, the SME initiative of the exchange also includes NSE Emerge where companies can bring out IPO (unlike Emerge ITP).
"The Institutional trading platform helps SME companies in enhancing the visibility of the company, creating a market for the company's shares; besides increasing public awareness and interest in the company and it's products. It also provides access to additional fund raising, through rights or placement issues" said Mr Ravi Varanasi, Chief - Business Development, NSE.
NSE has established a credible admission process and also handholds interested entrepreneurs in their journey to the capital markets. The exchange lends support to the issuer companies to reach out to the investor community. The platform encourages the promoters to give an audience to the investor community to instil confidence in them and thereby build their credibility. NSE is very keen that good quality companies should be able to raise funds on Emerge, while on the other hand it is an opportunity for investors to invest in high growth companies, with good business models.
For more details, contact:
Arindam Saha
Head - Corporate Communications
+91 – 022 – 2659 8164
About NSE:
In its 20 year history, NSE has transformed the capital
market, based on technology, innovation, high standards of governance and management
practices. NSE's business practices and high levels of integrity have earned it
the trust of the financial markets worldwide.
Besides being a platform of
choice for all exchange traded financial products In India, NSE’s flagship
index, the Nifty 50, has become a benchmark national level economic parameter.
Since inception, the exchange has been covered extensively by global media and
has won many accolades as recognition of this remarkable journey.
For Media Contact
Nagaraj
Perumal
Ketchum Sampark
Office : (d)+91 44 2435 2644
Mobile: +91 99406 37801
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