In a significant move aimed at enhancing financial opportunities for micro, small, and medium enterprises (MSMEs) in Uttar Pradesh, the National Stock Exchange (NSE) has signed a Memorandum of Understanding (MoU) with the state government. The collaboration seeks to empower the state’s vast MSME sector by facilitating capital mobilisation through public listings on the NSE Emerge platform.

The MoU was formally exchanged in Lucknow between Raj Kamal, Managing Director of the Uttar Pradesh Small Industries Corporation (UPSIC), and Nidhi Maheshwari, Senior Manager at NSE. Senior officials, including Alok Kumar, Principal Secretary for MSME, and Pranjal Yadav, Secretary for MSME, were present at the ceremony.

As per the agreement, NSE will actively support the Uttar Pradesh government in conducting awareness and capacity-building programmes across the state. These initiatives will include seminars, roadshows, MSME camps, and knowledge sessions designed to educate entrepreneurs about raising capital by launching Initial Public Offerings (IPOs) through the NSE Emerge platform. The platform caters specifically to the needs of small and medium enterprises, offering them an accessible route to list and gain visibility in the capital market.

Commenting on the development, Alok Kumar said that under the leadership of Chief Minister Yogi Adityanath and Industry Minister Rakesh Sachan, the state government has been committed to nurturing a robust ecosystem for MSMEs. He added that the MoU would enable these enterprises to tap into the equity markets, thus facilitating business expansion and improved financial stability.

In alignment with the MSME Policy 2022, the Uttar Pradesh government is offering financial assistance of up to ₹5 lakh to support MSMEs in the listing process. This provision is expected to further encourage enterprises to explore new avenues for raising funds.

Sriram Krishnan, Chief Business Development Officer at NSE, highlighted the role of the NSE Emerge platform in enabling SMEs to efficiently access capital and build investor confidence. He noted that so far, 612 companies from various sectors have listed on the platform, collectively raising over ₹17,003 crore. These companies now have a combined market capitalisation of approximately ₹1,76,565 crore.

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Krishnan urged MSMEs in Uttar Pradesh to leverage this initiative to fuel their growth journey. He stressed that beyond financial access, listing on NSE Emerge enhances brand credibility and opens the door to a broader investor base.

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