Bombay Stock Exchange ties up with HDFC bank to give boost to startups platform
The Bombay Stock Exchange (BSE) has signed a Memorandum of Understanding (MoU) with HDFC Bank to spread awareness about the benefits of listing on BSE Startups platform. The MoU will also extend value-added support for eligible startups, along with BSE for the listing. The move will offer banking and lending solutions to eligible startups already listed or due-to-list on BSE startup platform. Moreover, the ability to access capital via BSE’s startup platform in turn will enable startups to access growth capital and enhance tradability of an otherwise illiquid/ high-risk investment asset class. The exchange had launched the startup platform in December 2018, with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion. HDFC Bank has 43 million customers, 5,000 branches and 13,160 ATMs across 2,727 Indian towns and cities.