Suyog Gurbaxani Funicular Ropeways Limited becomes Three Hundred and Fifty Fourth company to get listed on BSE SME Platform
Suyog Grbaxani Funicular Ropeways Limited became the 354th company to get listed on the BSE SME Platform on November 16, 2021. Suyog Gurbaxani Funicular Ropeways Limited came out with an initial public offering of 65, 55, 000 Equity Shares of Rs.10 Each (“Equity Shares”) for Cash at a Price of Rs.45 Per Equity Share (The “Offer Price”), Aggregating to Rs.29.50 Crore. The company has successfully completed its public issue on November 08, 2021.
Suyog Gurbaxani Funicular Ropeways Limited is Mumbai based company. The company engaged in building & operating the Funicular Ropeways Systems. The Company is currently involved in an Infrastructural Development project through a Build, Operate and Transfer mode (“BOT”).
Mumbai based Aryaman Financial Services Limited, was the lead manager to Suyog Gurbaxani Funicular Ropeways Limited.
So far, 122 companies have migrated to the main board. The 353 companies listed on BSE SME Platform have raised Rs.3,731.81 crore from the market and total market capitalization of 353 companies as on November 15, 2021 is Rs. 40,706.33 Crore. BSE is the market leader in this segment with a market share of 61 percent.
SEBI had come out with detailed guidelines on 18th May, 2010 for launching of SME Exchange/Platform. BSE was the first stock exchange to get the approval from SEBI and had launched its SME platform on 13th March, 2012.
The response since the launch of this platform by BSE has been very positive till date.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.