Lucknow: The Uttar Pradesh government has signed a memorandum of understanding (MoU) with the National Stock Exchange (NSE) to help micro, small, and medium enterprises (MSMEs) raise funds through public listings on the NSE Emerge platform.
Policy push to connect MSMEs with capital markets
The move is part of the state’s broader push under its MSME Policy 2022 to enable smaller enterprises to explore equity funding options. Currently, the state is home to nearly 96 lakh MSMEs. The government has committed to offering financial assistance of up to Rs 5 lakh to businesses aiming to get listed on stock exchanges.
Through this MoU, the state aims to ease access to capital for MSMEs by linking them with the NSE Emerge platform—India’s SME-focused trading platform that facilitates public listing for small businesses. The partnership includes awareness-building measures like seminars, roadshows, and entrepreneur camps to familiarise business owners with the listing process.
State officials highlight intent to build robust MSME support systems
The agreement was signed between Raj Kamal (IAS), Managing Director of Uttar Pradesh State Industrial Corporation (UPSIC), and Nidhi Maheshwari, Senior Manager at NSE. Present during the signing were Alok Kumar (IAS), Principal Secretary of the MSME department, and Pranjal Yadav (IAS), Secretary, MSME.
Alok Kumar stated that the initiative aligns with the state’s larger efforts to build an ecosystem that enables MSMEs to scale through formal financing avenues.
NSE Emerge’s growing traction among SMEs
According to NSE officials, 612 companies have been listed on the NSE Emerge platform so far, collectively raising over Rs 17,000 crore. These companies now account for a combined market capitalisation of Rs 1.76 lakh crore. The exchange views Uttar Pradesh’s MSME base as a significant contributor to future listings.
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