Meesho has partnered with the BSE (Bombay Stock Exchange) to launch Project Shikhar. This initiative designed to help the Micro, Small and Medium Enterprises (MSMEs) and digital-first businesses access to the capital markets. This program aims to support the high-performing e-commerce sellers in their journey from privately owned enterprises to the publicly listed companies.
What is Project Shikhar?
Project Shikhar is the joint initiative launched by the Meesho and BSE through a Memorandum of Understanding (MoU) to facilitate the listing of the eligible MSMEs on the BSE SME Platform.
The programme is specifically designed for the successful e-commerce sellers and small businesses that have demonstrated the growth potential but they often face challenges in accessing to expansion capital.
With the structured roadmap, Project Shikhar will help the businesses to prepare for public listing and connect them with opportunities available in the India’s capital markets.
Why MSMEs Need Access to Capital Markets
MSMEs contribute the significantly to India’s economy and accounting for the substantial share of the employment, manufacturing output and exports. However, there are many small businesses struggle to secure the long-term funding for expansion.
Traditional financing options such as the bank loans often requires the collateral and may not adequately meet the needs of rapidly growing enterprises.
Access to the capital markets via the public listing allows businesses to raise the funds from investors, improve corporate governance and enhances their market credibility.
Project Shikhar also aims to simplify this process and make the capital market participation more accessible for emerging businesses.
Role of the BSE SME Platform
The BSE SME Platform was created to provide the small and medium enterprises with the special dedicated avenue for raising capital through stock market listings.
Compare to the main stock exchange board and this SME platform offers the relatively simplified listing requirements tailored to the needs of the smaller businesses.
Over the couple of years, the platform has enabled the hundreds of MSMEs to raise the growth capital, improve transparency and will strengthen the governance standards.
How Project Shikhar Will Support Businesses
This program will provide the comprehensive support to selected sellers over the coming year. Eligible businesses will receive the guidance on to the several critical aspects of the listing process, including the,
- Entity conversion and restructuring
- Compliance management
- Regulatory preparedness
- Corporate governance standards
- Listing documentation and procedures
By offering the step by step roadmap, this initiative aims to reduce the complexity often associated with the becoming a publicly listed company.
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