NSE to help start-ups go public for funds

Bengaluru, Dec 5 (IANS) The National Stock Exchange (NSE) on Tuesday said it would facilitate start-ups to mobilise funds through a public issue even in growth stages.

"We are committed to provide new age firms (start-ups) an ecosystem for raising equity capital in growth stages through a public issue," said NSE Chief Executive Vikram Limaye at a tech conclave here it organised to address funding issues of new age technology entrepreneurs.

Experts participating in the conclave preferred IPOs (Initial Public Offering) to raise funds for startups.

"As new-age firms with innovative ideas are set to transform the Indian economy, we are committed to partnering with them in their growth journey," said Limaye.

The driving force of the Indian start-up ecosystem has to be to solve the problems of our country, said Minister of State for Civil Aviation Jayant Sinha, who was also present at the event.

"India has to be the entrepreneurial engine not just for the affluent one billion people on the planet but for the other six billion people as well," he said.

The country has the potential to become a $10 trillion economy by 2030 with the support of start-ups that will go public and bring in investments, he added.

Start-up ecosystem in the country has grown manifold over the past few years, stated the former Chief Financial Officer of global software major Infosys and the Chairman of Manipal Global Education T.V. Mohandas Pai.

"Our country has one of the largest ecosystems of start-ups next to the US and China and will grow to have about 100,000 start-ups by 2025," he added.

Securities and Exchange Board of India's former chief C.B. Bhave was also present at the event, which saw the participation of entrepreneurs, investors and regulators from across the country.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)