On a day when the premier exchange BSE formally launched its SME platform,its larger rival National Stock Exchange (NSE) also today soft-launched its SME exchange called ‘EMERGE’ with an online version of the bourse.
“The Emerge will provide investors with opportunities to invest in growing businesses. It has the potential to significantly improve access to risk capital for emerging economies,” NSE Managing Director and Chief Executive Ravi Narain told reporters here.
Narain also said trading on this platform will be allowed in both continuous market as well as call auction basis.
“The company can choose to trade its shares on continuous basis,which will allow the scrip to be traded during the whole market hours,else,they can opt for call auction in which the shares will be traded for an hour at a specific time,” he said,adding this will help a focused approach for investors.
The stock exchange,which starts receiving draft red herring prospectus (DRHPs) from today,will also provide many services to the MSES which will be listed on this platform.
“We will provide post-listing research reports about companies along with handholding and preparation of issues,” Narain said,adding he hopes to get sound response from financial institutions during the listing of SMEs.
NSE will also do IPO grading and see end use of the funds raised by companies,he said.
Referring to a possible number of listing,Narain said he hopes to list around 9-10 companies in the next three-six months.