BSE, HDFC Bank sign MoU to spread awareness about Startup platform
The objective behind this memorandum is to raise awareness of the benefits the start ups can avail by getting listed in the BSE's Startup platform.
The world's fastest exchange BSE recently signed a memorandum of understanding with HDFC bank. The objective behind this memorandum is to raise awareness about the benefits start ups can avail by getting listed in BSE's Startup platform. The Asia's oldest stock exchange BSE, had launched the Start Up platform on December 22, 2018 , with the aim to encourage entrepreneurs and start ups to get listed in the platform. By getting listed, the start ups get to raise equity capital for their growth and expansion. This further will ensure that more start ups come up and maintain their stature.
BSE will provide the following benefits to the startups once they get listed in the Start up platform:
- 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.
On the development of the collaboration, 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"
Adding to the association with BSE, Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank, said, “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”.