Firm count on BSE SME goes to 56; many more waiting

Mumbai, Apr 21 (KNN) The total number of companies listed and traded on the BSE SME platform has increased as the market capitalisation of the firms on the alternative stock platform for the SME sector is in the range of Rs 6, 600 crore. 

BSE which has 56 companies listed on its SME dedicated platform has crossed the mark of USD 1 million last month within 2 years of its commencement, and it now has an additional 14 companies in the process of listing on the platform in the next one month.

Recently, Haryana based Women's Next Loungeries Limited came out with a public issue on the platform.

The company, designs, manufactures, and sells women’s lingerie in India. The company offers a range of brassieres and panties catering to both teenagers and women under the Valentine Pink and Women’s Next brands. The company had offered 10 lakh equity shares of face value of Rs 10 each at a price of Rs 65 per share including a premium of Rs 55.

The equity shares of Gujarat-based textile company R&B Denims Limited are proposed to be listed on April 22 on the SME platform of the Bombay Stock Exchange with the face value of each equity share at Rs 10 each and the issue price also at Rs 10.

The company raised around Rs 3.71 crore through issue of an IPO of 37.10 lakh equity shares of face value of Rs 10 each for cash at par. The price band was fixed at Rs 10 per share.

The issue was open for subscription on March-28 and closed on April-04, 2014.

Some of the companies are lined up to be listed on the platform are Dhanuka Commercial Limited, Sirohia & Sons Limited and Starlit Power Systems Limited.
Average market capitalisation per company works out to be more than Rs 100 crore, which is similar to main Board companies on BSE, a release by BSE has said.

BSE commenced the SME platform on March 2012 and in over two- year period, BSE has achieved more than 90 per cent market share helping Indian SMEs create a market capitalisation of more than USD 1 billion.  Average IPO size on BSE SME is close to Rs 9 crore per issue.