Kolkata: K A Wires Ltd, a Kolkata based company, has become the first company to get listed on NSE’s Emerge Institutional Trading Platform (ITP) from the eastern Region . As per the information submitted to the exchange the company manufactures and exports thermal spray wires. NSE’s Emerge ITP is an exclusive platform for start-ups and growing companies to list and showcase their performance to their lenders and potential investors, without an IPO (Initial Public Offer). Here companies can raise funds through rights or placement issues. KA Wires, the 15th company to be listed on Emerge ITP, was advised by Sumedha Fiscal Services Ltd (SFSL) (a Category I Merchant Banker registered with SEBI) for the listing. NSE launched the EMERGE ITP platform in December 2013.
The criteria for listing on ITP, without an IPO, is that the company should not have been incorporated for more than 10 years; one year’s audited financial statement, revenues of less than 100 crores and paid up capital of less than 25 crores. It should have existing investors and lenders to be eligible to list on ITP. Along with the ITP segment, the SME initiative of the exchange also includes NSE Emerge where companies can bring out IPO (unlike Emerge ITP). “The Institutional trading platform helps start-ups in enhancing the visibility of the company, creating a market for the company’s shares; besides increasing public awareness and interest in the company and it’s products. It also provides access to additional fund raising, through rights or placement issues” said Mr Ravi Varanasi, Chief – Business Development, NSE.