A senior official said on Wednesday that Small and Medium Enterprises (SMEs) are increasingly turning to the capital markets for funding. As of June 2024, there will be 780 SMEs listed on the NSE and BSE, and these businesses will have raised approximately Rs.11,000 crore.

The joined market capitalization of these SMEs currently surpasses Rs.1.6 trillion, Shekhar Chaudhary, director of the financial markets & sectors division at the branch of financial issues, said.

Chaudhary emphasized the significance of capital markets to India’s economic growth and development in his speech at the 10th CII (East) Capital Markets edition.

A report on SME IPOs (Initial public offerings) was delivered during the occasion. Specialists examined how capital business sectors could drive India’s financial future by enabling SMEs to make huge commitments to the nation’s Gross domestic product, an assertion said. Chaudhary likewise noticed that in the social venture area, nine NGOs have raised Rs.12 crore through a social trade stage.

Around 100 NGOs are presently enlisted with the NSE and BSE, getting ready for future gathering pledges, he added. West Bengal represents 5% of the absolute AUM, positioning among the main 10 states regarding per capita infiltration. Kolkata is among the best five urban areas for AUM commitment, he added.

Kamala K, boss administrative Official of BSE India, communicated certainty that capital business sectors will be a critical driver in India’s transformation toward turning into a developed country by 2047.

Recently, FINQY, a fast-growing fintech startup has successfully lifted $2 million in a new funding round. Previously in the month of March 2022, the company had bagged $839K in its seed round from AngelBay and Anvita Varshney. The freshly raised capital will be deployed to enhance the distribution of financial services in India via its strategic development initiative and technology.