UP govt signs MoU with NSE to help MSMEs raise capital

Lucknow: The Uttar Pradesh govt signed a Memorandum of Understanding (MoU) with the National Stock Exchange (NSE) on Wednesday to facilitate capital-raising opportunities for the state's 96 lakh micro, small, and medium enterprises (MSMEs). These MSMEs can now raise funds by launching Initial Public Offerings (IPOs) through the NSE Emerge platform .

Sharing details, an official spokesperson said the state govt remains committed to strengthening these enterprises both financially and technically. "As part of the MSME Policy 2022, financial assistance of up to Rs 5 lakh is being offered to support MSMEs in getting listed on the stock exchange," the spokesperson said. This MoU marks a significant milestone in the state's efforts to empower its MSME sector—not only by facilitating access to capital but also by expanding market presence.

NSE Emerge is a dedicated platform designed to connect MSMEs with the capital market, offering opportunities for public funding, increased brand visibility, and access to a broader investor base. In collaboration with the Uttar Pradesh govt, NSE will conduct seminars, awareness programmes, roadshows, and MSME camps across the state to educate entrepreneurs about listing and raising capital through IPOs.

The MoU was signed by managing director of UPSIC, Raj Kamal and senior manager, NSE, Nidhi Maheshwari. Principal secretary, MSME, Alok Kumar and secretary, MSME, Pranjal Yadav were also present at the event. "Under the visionary leadership of Chief Minister Yogi Adityanath and industry minister Rakesh Sachan, the UP govt is creating a robust ecosystem for MSMEs. This MoU will provide them greater access to the equity market, enabling business expansion and growth," said Alok Kumar.

Chief business development officer at NSE, Sriram Krishnan, said, "To date, 612 companies have been listed on the NSE Emerge platform, raising over Rs 17,003 crore in capital. Their combined market capitalisation stands at approximately Rs 1,76,565 crore. MSMEs in Uttar Pradesh should seize this opportunity to accelerate their growth journey."