The MSME Department, Odisha on September 01, 2023, issued a notification regarding the Financial Assistance to MSMEs for raising Capital by getting listed on the Stock Exchange.
The following has been stated namely: -
• The access to capital is one of the biggest problems faced by MSMEs. One way by which MSMEs can solve this issue is by getting listed in stock exchanges and thereby raising capital from the stock market.
• To encourage more and more MSMEs to get listed in stock exchanges, NSE and BSE offer simplified processes with minimal cost and compliance burden to MSMEs.
• The Government of Odisha has declared a one-time grant/financial assistance up to 2% of the total capital raised from NSE/BSE or 20 % of the expenditure incurred for raising capital from NSE/BSE, subject to a ceiling of Rs. 10 lakh, to MSMEs of Odisha on successful listing in NSE/BSE.
• The MSMEs, after getting listed in NSE/BSE, can make a written application to the MSME Department, giving all relevant details and documentary evidence regarding getting listed in NSE/BSE and capital raised by such listing. (Format given in Annexure-A) If their claim is found to be genuine, the financial incentive amount will be directly credited to their bank account by the MSME Department within 30 days from the date of receipt of their application.
[Notification No. MSME-IPE-MISC-0068-2023/6264]
