BSE SME Exchange to be launched on March 13

The Bombay Stock Exchange (BSE) will start operations of its small and medium enterprises (SME) platform on March 13, media report said quoting its CEO Lakshman Gugulothu.

BCB Finance, a non-banking finance company (NBFC) with Rs. 8.85 crore initial public offer (IPO), became the first company to raise funds on the exchange that opened for subscription on February 23 with the issue price fixed at Rs. 25 a share closed on February 27. It was subscribed 1.5 times of the issue size.

Gugulothu added there are many SMEs lining up for IPO including Monarch Health Services that will come up with its first IPO. Once its get the approval, Monarch will raise about Rs. 10 crore. The company will be listed on the exchange by March-end.