Seven SMEs file DRHP in 2016 to float IPOs

16/02/2016 13:12

Seven small and medium enterprises (SMEs) have filed draft papers to float their initial public offerings this year.

The shares will be listed on the SME platforms of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), said the media reports.

Since the beginning of 2016, seven companies have filed draft documents to collectively mop up about Rs 34 crore through their IPOs, according to a PTI report.

Four firms – Sysco Industries, Kranti Industries, Raghav Ramming Mass and AGI Hospitalities – filed papers to launch their IPOs on BSE’s SME platform, while Globe International Carriers, HEC Infra Projects and Artemis Electricals plan to list on NSE Emerge.

These companies are from sectors such as logistics services, automotive components, infrastructure and hospitality, among others.

According to market experts, increasing number of firms coming on SME exchanges send positive signals and lend a lot of confidence to SME capital markets.

In 2015, 43 companies were listed to garner about Rs 327 crore from SME platforms.

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