Exchange has significantly lagged behind its smaller rival BSE in SME segment
The National Stock Exchange (NSE), the country’s biggest bourse, aims to ramp up the number of listings on NSE Emerge, its platform meant for small and medium enterprises (SMEs).
The exchange has significantly lagged smaller rival BSE in the SME segment, set up by both in 2012. NSE has only eight companies listed on Emerge, compared to over 100 on the BSE's platform.
According to sources, the Securities and Exchange Board of India (Sebi) is not happy at NSE’s progress in this regard. “Recently. a meeting took place where senior officials at Sebi and NSE did a status check of the platform. There is pressure on NSE to push it,” said two people in the know.
Both Sebi and the government are keen to ensure SMEs, considered the economy's backbone, get access to equity capital. The contribution of SMEs to gross domestic product is 38 per cent.
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