E-commerce platform Meesho has partnered with the BSE to help Micro, Small, and Medium Enterprises (MSMEs) and digital businesses become publicly listed companies. The initiative, called 'Project Shikhar,' has been formalised through a memorandum of understanding (MoU). It aims to help high-performing independent e-commerce sellers list on the BSE's SME platform, thereby accessing the capital they need for growth.
BSE provides opportunities in the capital markets for dynamic and employment-generating businesses
Sundararaman Ramamurthy, Managing Director and CEO of BSE, said that BSE launched the SME platform to provide dynamic and job-creating businesses direct access to the capital markets. "Over the years, the BSE SME platform has enabled hundreds of MSMEs to list, raise growth capital, and strengthen operating standards," Ramamurthy said.
"This partnership with Meesho expands this ecosystem to digital-first entrepreneurs, enabling e-commerce sellers to become public companies," she added.
Large part of retail business is conducted in the informal or unorganised sector
A large portion of India's retail businesses operate in the informal or unorganised sector, which often faces challenges accessing traditional expansion capital. In a statement, Meesho said "Project Shikhar" will bridge this gap and create a phased path to a public listing.
Meesho to help sellers raise public capital
Lopamudra Rao, Head of Corporate Affairs at Meesho, said that a large portion of the seller ecosystem operating on e-commerce platforms consists of entrepreneurial businesses that have grown rapidly. However, transforming into an investment-ready entity remains complex.
"Project Shikhar will address this complexity. Through this partnership with BSE, we are not only helping sellers raise public capital, but we are also creating a pipeline of transparent and compliant businesses that will accelerate India's formal economy," Rao said.
BSE SME Listing Today
Meanwhile, shares of Yaashvi Jewellers got listed on the BSE SME. The share made a flat debut, listing at par with the initial public offering (IPO).
The stock opened at Rs 83, the same as the offer price. While the IPO allottees didn't make any gains on the listing of Yaashvi Jewellers' IPO, the company's shares gained over 3 per cent to Rs 85.50 apiece immediately after listing.
