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SEBI gives reasons for SMEs to cheer
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Bikky Khosla | 10 Nov, 2009
Two developments will probably dominate the rest of the week - one, SEBI's decision not to go in for a separate exchange for SMEs and second, the Commerce and Industry minister's statement that exporters still needed support and that there were no plans to withdraw sops.
SMEs which depend on loans and other means of finance will now get a chance to list their stocks and raise money from the public. Although the Securities and Exchange Board of India (SEBI) has ruled out a separate exchange for SMEs as part of its efforts to encourage SMEs to go public, the country's market watchdog has relaxed them from the usual eligibility norms applicable for initial public offerings (IPOs) and follow-on public offerings. From now on, SME stocks will be listed on a separate trading platform of an existing exchange.
The entire process will bring in more transparency, with SMEs having to disclose their financial results to the exchanges on a half-yearly basis. This relaxation, unlike the larger companies who have to report their numbers on a quarterly basis, is indeed a good move.
With a horde of other relaxations for SMEs to get listed, SMEs will perhaps have one headache less when it comes to raising money for their operations.
Meanwhile, the government's decision not to withdraw the stimulus package for exporters in the near future is a positive move considering the fact that there are not many signs of exports rebounding soon.
Although experts are of the opinion that exports would rebound from the last quarter of this fiscal, a relook at the status of the sops then would be more rational. Continuing with the stimulus packages in the current juncture is perhaps the need of the hour considering that exports have tanked since October 2008, dipping by 13.8 percent in September.
So, two good developments this week will perhaps give SMEs some reason to cheer.
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SEBI gives reasons for SMEs to cheer
HAROON KAZMI Managing Director L.I.I.GROUP | Wed Nov 11 11:42:47 2009
Its Really a very good move.Exporters really need it.It will show good sign for the indian economy very soon.
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Re: SEBI gives reasons for SMEs to cheer
Vinay Joshi | Wed Nov 18 20:03:32 2009
Dear Mr.Bikky Khosla,
What a fallacy in your thinking that SME stock exchange co. listing will be transperant!in their dealings.
Do you want me to comment on 'Satyam Computers' saga [not a SME[ or erstwhile episodes? Or other SME's registered earlier.
As of now leading energy co. is under the scanner for fudging stock exchange info vis-a-vis stipulated regulatory revenue details.
How many SME's in the past have vanished after listing? Any count?
What has happened to OTC? [over the counter trading]
As of now most SME's have capital to debt ratio of 1:3 instead of the investors norms of debt to equity of 1:3 / 1:2.5 max.
This is a complex aspect wherein SME's will prove their assertion, transparency instead of depending on traditional banking norms.
Will SME's comply? costs involved, stipulations mandatory, stake holders satisfaction, value for money as well to its valued customers!
Today mid-cap segment listed are graduated SME's!
As regards stimulus package, can't be suddendly withdrawn until this fiscal but what is the growth vis-a-vis inflation?
Why Mr.Bikky you are silent on inflation?
Should i post to you mandi prices across the board?
Why bittersweet 'sugar' at 38/-? Why Tur Dal @ 100 /-?
Money expansion is no solution to growth it fuels inflation,or only bail out as evidenced by $14 Trn stimulus, yet no signs!
All said & done MSME's form the backbone of India growth story including employment,can't be negated. Rgds,
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