UP govt to help firms get listed on stock exchanges - Hindustan Times
The Yogi Adityanath government on Thursday initiated the process to list more companies of the state on the National Stock Exchange (NDSE) and the Bombay Stock Exchange (BSE).
At present, eight companies from Uttar Pradesh are listed on the NSE and nine are listed on the BSE.
The state has 55 lakh demat accounts and stands at the third position in the country in terms of the number of such accounts.
Navneet Sehgal, additional chief secretary, MSME, held a meeting with Rakesh Kumar, senior manager of NSE, to initiate the process of listing more companies at the two stock exchanges, on Thursday.
During the meeting, Sehgal apprised the NSE official about the presence of a large number of companies from various sectors in the state, including IT, electronics, manufacturers of plastic, leather, agro, food products, processing and textiles among others.
“Companies established in the state in the last four years will get preference in listing on the NSE and BSE,” Sehgal said.
It was decided that virtual interactive sessions will be organised between the NSE/BSE officials and industry lobby bodies like FICCI and Udyog Bharti to help industrialists list their companies on the stock exchanges.
“All help will be extended to new companies to get listed on the stock exchange. This will help them expand their business and increase their capital,” said Sehgal.
Apart from this, the state government will also help in listing of companies trading in ODOP (products) on the stock exchange.
The state government had launched the ODOP scheme in January 2018. It has identified 75 products in as many districts that are indigenous to that area. These products have made the respective districts famous.
In the long list of 75 products are the world famous carpets of Bhadohi, brassware of Moradabad, locks of Aligarh, famous black pottery of Mirzapur, crockery of Khurja, leather of Agra and Kanpur among other products.