The National Stock Exchange (NSE) has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to help micro, small, and medium enterprises (MSMEs) in the state access capital markets through the NSE Emerge platform.

The agreement was signed in Lucknow between Raj Kamal, Managing Director of the Uttar Pradesh Small Industries Corporation, and Nidhi Maheshwari, Senior Manager at NSE. Senior officials, including MSME Principal Secretary Alok Kumar and Secretary Pranjal Yadav, were also present.

Under the MoU, NSE will support the state in conducting awareness drives, seminars, and MSME-focused roadshows. These initiatives will educate entrepreneurs on raising capital through Initial Public Offerings (IPOs) via the NSE Emerge platform — a platform tailored for small and medium enterprises.

In alignment with the MSME Policy 2022, the state will offer financial assistance of up to Rs 500,000 to eligible enterprises for the listing process.

Sriram Krishnan, NSE’s Chief Business Development Officer, stated that 612 companies have raised over Rs 170.03 billion through the platform, with a current combined market capitalisation of Rs 1.76 trillion.

Source: Elets News Network