Sebi to set up bourse for SMEs
Bhubaneswar: Sebi chairman M Damodaran on Sunday said the stock market regulator would very soon identify a party to set up a dedicated bourse for the small and medium enterprises (SME) sector. “Sebi will help set up a separate stock exchange for the SME sector. Some parties have filed their applications with us. They have the requisite qualification. We would very soon pick one of them to do the job,” Damodaran told TOI. He, however, refused to divulge the names of the applicants and said, “It won’t be right to disclose their names as one will be chosen and the rest rejected. But they are people with expertise.” The move to establish a separate bourse for the SME sector, according to experts, has gathered momentum considering the difficulties small and medium enterprises face competing in the existing stock exchanges, which are dominated by big players. Damodaran, however, did not have many encouraging words for regional bourses. “The NSE and BSE have got an all-India presence. Even the Calcutta stock exchange has tied up with the BSE. We cannot have fragmentation of exchanges. It is difficult for others,” he said.. He pointed out that the market regulator cannot do much to help the regional bourses and remarked, “We have demutualised and corporatised them. We cannot generate business for them.”