Scarnose International Limited becomes the Three Hundred and Seventy Sixth Company to get listed on BSE SME Platform
Kolkata based Finshore Management Services Limited, was the lead manager to Scarnose International Limited.
Scarnose International Limited became the 376th company to get listed on the BSE SME Platform on June 27, 2022. The company came out with an initial public offering of 12,00,000 Equity shares of Rs.10 each for cash at a price of Rs. 55 per equity share, aggregating to Rs. 6.60 crore. The company has successfully completed its public issue on June 17, 2022.
Scarnose International Limited is a Gujarat-based company whose registered office is in Ahmedabad. The company engaged in trading of a diverse range of raw cotton, cotton bales & yarn. Currently, the company has started manufacturing readymade garments through different job workers. These garments are made using printed fabric and solid dyed fabrics. Most of the garments are supplied with extensive value addition involving embroidery, hand embroidery and hand work including beads, and sequences. The latest trend, fashion and lifestyle are having an impact while designing our product range.
Kolkata based Finshore Management Services Limited, was the lead manager for Scarnose International Limited.
So far, 144 companies have migrated to the main board. The 375 companies listed on the BSE SME Platform have raised Rs.3,997.58 crore from the market and the total market capitalization of 375 companies as of June 24, 2022, is Rs. 46,745.29 Crore. BSE is the market leader in this segment with a market share of 60 percent.
SEBI came out with detailed guidelines on 18th May 2010 for the launching of SME Exchange/Platform. BSE was the first stock exchange to get approval from SEBI and launch its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been very positive to date.