Lucknow : In a landmark move to bolster the financial capabilities of micro, small, and medium enterprises (MSMEs), the Government of Uttar Pradesh and the National Stock Exchange (NSE) have signed a Memorandum of Understanding (MoU) to facilitate capital raising for nearly 9.6 million MSMEs in the state.
The MoU aims to assist MSMEs in accessing equity markets through the NSE’s SME platform—NSE Emerge—by enabling them to raise funds via Initial Public Offerings (IPOs). As part of the 2022 MSME Policy, the state also offers financial assistance of ₹5 lakh to eligible enterprises listing on the stock exchange.
Under this collaboration, NSE will conduct seminars, awareness sessions, roadshows, and workshops across the state to educate MSMEs about the capital-raising process and benefits of public listing.
The MoU was formally signed in Lucknow between Raj Kamal, IAS, Managing Director of UPSIDC, Government of Uttar Pradesh, and Nidhi Maheshwari, Senior Manager at NSE. The signing ceremony was attended by Alok Kumar, IAS, Principal Secretary of MSME and Export Promotion, and Pranjal Yadav, Secretary, MSME and Export Promotion Department.
“This partnership is a significant step forward in the journey of Uttar Pradesh’s industrial growth. Under the visionary leadership of Chief Minister Yogi Adityanath and Industries Minister Rakesh Sachan, we are committed to building a strong ecosystem for MSMEs to thrive,” said Alok Kumar.
He added that the MoU will enable local enterprises to gain visibility, credibility, and access to public capital, encouraging them to scale and become attractive investment destinations.
The initiative is also aligned with the World Bank-funded RAMP (Raising and Accelerating MSME Performance) program, through which the MSME department is nurturing 500 MSME champions in the state.
Sriram Krishnan, Chief Business Development Officer at NSE, emphasized the benefits of the NSE Emerge platform: “It offers MSMEs a streamlined route to raise funds and enhance their market presence. With this MoU, we aim to empower UP’s MSMEs to leverage capital markets efficiently.”
So far, 612 companies across various sectors have been listed on NSE Emerge, collectively raising over ₹17,003 crore, with a combined market capitalization of around ₹1.76 lakh crore.
The collaboration is expected to play a crucial role in accelerating the financial empowerment of MSMEs in Uttar Pradesh, fostering entrepreneurship, and opening new pathways for sustainable economic growth.
