New Delhi, Jan 7 (KNN) Small and medium enterprises raised as much as Rs 335 crore from the initial public offering (IPO) in the stock market in 2013, even as the overall sentiment in the primary market was quite bearish.
The money raised by SMEs accounted for 21 per cent of the total funds raised through IPOs as per the data compiled by the Prime Database.
In the backdrop of the IPO market hitting a 12 year low in 2013, SMEs saved the day for IPOs.
Top exchanges BSE and NSE promoted small and medium enterprise platforms in 2013, resulting in 35 small units hitting the market, raising Rs 335 crore. In contrast, the entire primary market stood at a measly Rs 1,619 crore which was a 12 year low.
Against this, in 2012, only 14 SME IPOs worth Rs 103 crore had hit the market.
The BSE-SME Platform which was launched in March 2012 has also received over 50 applications for prospectus.
The BSE SME Exchange, the Bombay Stock Exchange's platform for small and medium enterprises (SMEs), is witnessing a lot more SMEs listing on the platform these days.
So far, a total of 43 companies have listed on the platform. However, active trading takes place in less than half of the companies listed.