Companies in state to raise capital from stock markets – Navneet Sehgal

Lucknow: The state government has taken a new initiative for companies to raise capital through the stock market. In this context, Rakesh Kumar, Senior Manager, National Stock Exchange (NSE) met Additional Chief Secretary, Micro, Small and Medium Enterprises Dr. Navneet Sehgal and had a positive discussion on getting new companies listed on NSE/BSE from Uttar Pradesh.

In the meeting held at Export Promotion Bhawan, Kaiserbagh, the Additional Chief Secretary said that Uttar Pradesh has about 55 lakh DEMAT accounts and ranks third in the country.

He said that at present there are eight companies listed on NSE from Uttar Pradesh and nine on Bombay Stock Exchange (BSE), whereas Uttar Pradesh has a large number of Electronics, IT, Logistics, Manufacturing, Plastics, Leather, Agro, Food products, Textiles etc.

Companies are doing good work in this field. He said that with the listing of these companies on NSE and BSE, their market capital will increase. Along with this, business will expand and employment opportunities will also be created.

The Additional Chief Secretary said that the companies established in the last four years in Uttar Pradesh would be given priority in getting listed on NSE/BSE. Industrial organizations like FICCI and Laghu Udyog Bharti will have virtual interaction with NSE/BSC, so that industrial organizations will be able to encourage entrepreneurs to list more and more companies on NSE/BSC. He said that all possible cooperation and help would be given to get the new companies listed in the stock market.

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