Cabinet Minister Piyush Goyal: Union Commerce and Industry Minister Piyush Goyal on Monday asked small companies to consider dual listing using GIFT City to increase their option of raising capital. Minister Piyush Goyal said that small companies have the option of getting listed on the SME (Small and Medium Enterprises) forums of the main stock exchange at GIFT City in Gandhinagar.
Will focus on raising capital
Minister Piyush Goyal said in the program organized on the occasion of the 400th Company Listed on BSE SME Platform being listed on BSE’s SME Platform, that there is a need to raise capital and look at options. This can give momentum to small companies. Goyal said that you can look at the International Financial Services Center in GIFT City. We also need to see whether we can encourage some of these companies to list on the GIFT City platform or explore the possibility of dual listing in Mumbai and GIFT City? He said the dual listing would help in raising domestic capital as well as international funds from companies that have set up or are in the process of setting up their units there.
150 small companies listed
The Commerce and Industry Minister said that the SME platform has a lot of potential and we also need to focus on promoting it in a better way. We need to connect more domestic investors with international investors. He mentioned that 150 small companies were earlier listed on the SME platform and now they are doing business on the main platform.
This will become a unicorn
The Industry Minister said that there are currently more than 100 Unicorns (with a valuation of $1 billion or more) and 70 to 80 Sunicorns in the country which are on their way to become Unicorns. Soonicorns are those startups that have the potential and potential to become a unicorn.
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