MUMBAI: With an aim to further strengthen the BSE Startups platform, BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds, has signed a memorandum of understanding (MoU) with HDFC Bank.
The MoU has been signed to spread more awareness on the benefits of listing on BSE Startups on this platform. BSE had launched the Start Up platform on December 22, 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.
The new MoU will help develop awareness of BSE’s Startup platform amongst HDFC Bank’s portfolio of startups. It will also extend value-added support for eligible startups, along with BSE for the listing.
Banking and lending solutions are offered to eligible start-ups already listed or due-to-list on BSE Startup platform. The listed entities will be able to access capital via BSE’s Startup platform and this in turn will enable startups to access growth capital and enhance tradability of an otherwise illiquid/ high-risk investment asset class.
Commenting on the collaboration, Ajay Kumar Thakur, Head BSE SME & StartUp 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.”
Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank noted that 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,” Ms Bhagat added.