Industry

Start-ups get a platform for listing, courtesy BSE

As part of its attempts to encourage the start-up community to move towards listing, BSE has launched a platform — ‘BSE Startups’ in collaboration with two venture capital firms — Cornerstone Ventures Investment Advisers LLP and Venture Catalysts.

The strategic collaboration with the two firms would enable BSE to further incentivise start-up firms in sectors such as information technology (IT), Information Technology Enabled Services (ITeS), biotechnology and life sciences, 3D printing, space technology and e-commerce, the exchange said in a statement.

The platform will also help in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence and genetic engineering among other sectors. “Indian youngsters need to get involved in creating more start-ups and raise funds from other Indians using BSE Startups platform. Thousands of young hi-tech companies should come and raise funds from discerning investors on this platform helping immense wealth creation for entrepreneurs, investors and the country as well as creating millions of jobs,” said Ashishkumar Chauhan, MD & CEO, BSE.

The launch of the platform comes close on the heels of the Securities and Exchange Board of India (SEBI) approving a host of amendments in the earlier guidelines for listing of start-ups.

The platform, called Innovators Growth Platform, now has a lower lot size – ₹2 lakh from the earlier ₹10 lakh – and has also done away with the 25% cap on post-issue holding by any person individually or collectively with persons acting in concert. Further, the minimum number of allottees has been brought down from 200 to 50.

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Printable version | Jan 19, 2021 6:28:14 PM | https://www.thehindu.com/business/Industry/start-ups-get-a-platform-for-listing-courtesy-bse/article25808426.ece

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