BSE SME platform investors get handsome returns
Sep 29 2013 , Mumbai
BSE was the first stock exchange in the country to launch an exclusive BSE SME platform last year offering a great opportunity to entrepreneurs to raise equity capital for expansion and acquisition. It helped the SMEs to create visibility, strong balance sheet, credibility and wealth creation.
"The BSE SME platform has enabled wealth creation for 34 companies by helping them raise over Rs 307 crore since the inception in March 2012. Over 90 percent of the listed companies are trading above their target price creating wealth for the investors," BSE MD & CEO Ashishkumar Chauhan told PTI here.
As of September, 2013 the total market capitalisation of the listed companies SSEs stands at Rs 1,986 crore, he said.
Among select companies, Looks Health Services quoting at Rs 302 against the issue price of Rs 40 has given 655 per cent return.
Among other shares, GCM Securities gained by 595 per cent, SRG housing 415 per cent, Max Alert Systems by 360 percent, Comfort Commotrade by 170 percent, RCL Retail 114 percent, Eco Friendly Food processing 236 per cent, HPC Biosciences 222 per cent, Samruddyhi Realty 194 percent and Ashapura Intimates Fashion 105 per cent.
The BSE SME platform has got 91 per cent market share and the exchange hopes to list 13 more companies in the near future, Chauhan said, adding that the issue price of companies listed are in the range of Rs 10 to Rs 40 and the issue size is in the range of Rs 2.5 crore to Rs 28.5 crore.