BSE inks pact with HDFC Bank to give a boost to the Startups platform

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 BSES 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 aim is to develop awareness of BSE’s Startup platform amongst HDFC Bank’s portfolio of startups and extend value-added support for eligible startups, along with BSE for the listing. It also aims at offering banking and lending solutions to eligible start-ups already listed or due-to-list on the BSE Startup platform. Startups will gain the ability to access capital via BSE’s Startup platform 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 & Start Up 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. While we have conducted numerous seminars in Tier 1, 2 and 3 cities on the benefits of listing on the BSE Start Up platform, we believe by associating with a leading bank like HDFC that boasts of a large network, presence and Start up base would enable more firms to choose our platform and raise funds as well as improve productivity.”

Commenting on the association, Ms Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank, “This is part of our commitment to the larger cause of strengthening the Startup community/ecosystem in the country. 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”.

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