6 Out of 7 Stocks on BSE SME Platform Post Gains


6 Out of 7 Stocks on BSE SME Platform Post Gains

Mumbai: Stocks having debuted on the leading bourse BSE's SME platform this year seems to be generating significant interest from investors, as six of them have given positive returns since listing and the seventh one is trading with just a modest loss.

BSE launched its SME platform for small and medium enterprises earlier this year in March and since then seven companies have got listed in this segment.

The SME platform of BSE's larger rival NSE, named Emerge, also became operational last week with the listing of first company, Thejo Engineering, in this segment.

At the BSE's SME platform six out of seven stocks are trading above their respective issue prices, while shares of one company, Jointeca Education Solutions, is trading nearly 2 percent below its initial public offer (IPO) price.

The stocks trading with significant gains include non-banking finance company BCB Finance (402 percent), Max Alert Systems (183 percent) and web infomedia company Jupiter Infomedia (18.25 percent).

Besides, housing finance firm SRG Housing Finance, cosmetic surgery and skin care services firm Monarch Health Services, and financial services firm Sangam Advisors are trading with gains of 5 percent, 0.75 percent and 0.45 percent, respectively.

According to market analysts, the post-listing performance of these public issues have been very inspiring for investors because of sensible pricing issue. Besides, it would encourage other companies to come forward for getting listed on the SME platform.

The BSE was the first to start trading on a separate SME segment and public issues of two more companies -- Anshu's Clothing Ltd and RCL Foods -- are in the pipeline for this platform.

The IPO of Anshu's Clothing Ltd would hit the capital market on September 26 to raise around 5.05 crore. The issue will close on September 28. In addition, RCL Foods has submitted its initial papers with the exchange.

In March, BSE's then Managing Director and CEO Madhu Kannan had said the SME exchange hopes to list 10 companies in the near-term and nearly 100 companies in the longer term.

Source: PTI