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New UP companies to get priority listing at BSE, NSE
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SME Times News Bureau | 14 Aug, 2021
New companies set up in the past four years in Uttar Pradesh, would be
prioritised in listing on the Bombay Stock Exchange and the National
Stock Exchange (NSE).
According to additional chief secretary
(ACS) MSME, Navneet Sehgal this was decided in a meeting with NSE senior
manager Rakesh Kumar on Thursday.
Sehgal said that virtual
meetings would be organised between the two exchanges and industry
bodies like FICCI and Laghu Udyog Bharti so that they could encourage
their members to get listed on the stock exchange.
During their
discussion, Sehgal and Kumar spoke about the possibilities of getting
new companies in the state listed on the two stock exchanges.
Sehgal informed Kumar that there are about 55 lakh DEMAT accounts in Uttar Pradesh, making it the third highest in the country.
Currently, there are eight companies from Uttar Pradesh listed on NSE and nine on BSE.
"This
is despite the fact that UP has a high number of electronics, IT,
logistics, manufacturing, plastic, leather, agro, food products and
garments companies, among others," Sehgal said, adding that by getting
listed on the stock exchange, the market capital of these companies
would go up.
This would improve businesses and increase employment opportunities.
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