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How does the SME exchange benefit the Small and Medium Enterprises (SME)
Listing provides an opportunity to the corporates / entrepreneurs to raise capital to fund new projects / undertake expansions / diversifications and for acquisitions.
This mode of fund raising through infusion of equity can help the Companies to raise borrowed funds at efficient rate.
Equity financing lowers the debt burden leading to lower financing costs and healthier balance sheets for the firms.
Listing also provides an exit route to private equity investors as well as liquidity to the ESOP-holding employees. SME Listing channelizes meaningful Schemes. Listing pre supposes good Corporate Governance which results in sustainability of the Company.
Listing also helps generate an independent valuation of the company by the market.
Listing raises a company’s public profile with customers, suppliers, investors, financial institutions and the media.
A listed company is typically covered in analyst reports and may also be included in one or more of indices of the stock exchanges.
An initial listing increases a company’s ability to raise further capital through various routes like preferential issue, rights issue, Qualified Institutional Placements and ADRs / GDRs / FCCBs, and in the process attract a wide and varied body of institutional and professional investors.
Listing leads to better and timely disclosures and thus also protects the interest of the investors.
Listing provides a continuing liquidity to the shareholders of the entity. This in turn helps broaden the shareholder base.
Listed companies generally find that the market perception of their financial and business strength is enhanced.
Tax Benefits –
The sale of unlisted shares in short term attract the capital gain tax upto 30% as applicable to the tax payer and the long term capital gain tax of 10% without indexation and 20% with indexation.
The sale of listed securities in the short term attract the capital gain tax of 15% and there is no long term capital gains tax provided it has been subject to STT. This makes it clear that the listing of shares on SME is very attractive.
All Companies listed on SME Exchange can anytime migrate to the main Board of BSE provided shareholders approval is accorded.
