BSE and IIT Alumni sign pact: To encourage startups listing
On July 13, 2020, the Bombay Stock Exchange (BSE) and IIT Alumni Council signed a pact to encourage listing of startups. The pact will help to develop high investor depth platform for startup companies.
The platform is to be developed using Artificial Intelligence and other technologies.
Highlights
The newly formed pact will provide end-to-end ecosystem to stock exchanges. Also, it will help attract wide range of private equity funds and venture capital. This will help to boost startups.
The alliance between the entities will ensure improvement in market governance, market discovery, transparency and provide liquidity. This will help revitalize the startups that were badly hit due to COVID-19 crisis.
Benefits
The alliance will help to reduce complexity, listing time and cost of small and medium sized enterprises. The category-1 merchant banks will be empaneled under the tie-up. This will help automate listing process and reduce time and cost of listing on startup platform.
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Month: Current Affairs - July, 2020