BSE Index Services launches BSE Multicap Consumption (50:30:20) Index

BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of a new index - BSE Multicap Consumption (50:30:20) Index. The BSE Multicap Consumption (50:30:20) Index aims to track the performance of stocks representing the Consumption theme. Top 100 stocks from a universe of stocks belonging to the MEI Sectors ‘Consumer Discretionary’ or ‘Fast Moving Consumer Goods (FMCG)’ would be included in the index.

The BSE Multicap Consumption (50:30:20) Index is derived from the constituents of BSE 500 Index, weighing method is Float-Adjusted Market Cap with the base value as 1000. The first value date is 19th December 2005, and it is reconstituted Semi-annually in June and December.

Speaking at the launch, Mr. Ashutosh Singh, MD & CEO said, “The BSE Multicap Consumption Index offers a holistic representation of India’s enduring consumption story across market capitalizations, a theme that the government of India has repeatedly supported through various policy and taxation measures. Designed with investors and asset managers in mind, the index provides a robust benchmark and an investable framework for gaining access to a diversified portfolio of consumption-oriented companies”

This new index can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of Consumption sector in India. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolios. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE's suite of indices.

Click here to know more about the index.

Sensex Bleeds ₹2 Trillion—Is Confidence Cracking in Corporate India?

The combined market valuation of eight of the top 10 valued firms eroded by Rs 2,07,501.58 crore last week. Tata Consultancy Services (TCS) and Bharti Airtel emerged as the worst hit.

The BSE Sensex fell 932 points (1.11%), reflecting broader investor caution. IT stocks, especially TCS, were hit hard due to earnings disappointment.

And, that’s a hefty dent in market confidence. Here's a breakdown of what happened:

Major Value Erosion

Eight of India’s top 10 most valued companies saw a combined market cap drop of ₹2.07 lakh crore last week. Leading the losses:

• Tata Consultancy Services (TCS): Fell by ₹56,279 crore after underwhelming June quarter earnings
• Bharti Airtel: Lost ₹54,483 crore
• Reliance Industries: Down ₹44,048 crore
• Infosys: Dropped ₹18,819 crore
• ICICI Bank, LIC, HDFC Bank, and SBI also saw declines ranging from ₹2,990 crore to ₹14,557 crore

The Silver Lining

Only two firms bucked the trend:

• Hindustan Unilever Ltd (HUL): Gained ₹42,363 crore, boosted by the announcement of Priya Nair as its first woman CEO
• Bajaj Finance: Rose by ₹5,034 crore.

Asia Index unveils BSE 1000 - India’s 1st 1000 stock Index, along with 4 other Indices to capture the growth potential of India’s emerging companies

Asia Index Private Ltd., a subsidiary of BSE, has unveiled five new indices as part of its Broad Market family, offering market participants a unique opportunity to tap into the growth potential of India’s next generation of emerging companies. These indices are designed to capture the performance of a diverse range of companies, from large cap to micro-cap, providing a comprehensive coverage of India’s dynamic equity market.

The indices launched include:

 

Index	Feature	Details
BSE 1000	The index measures the performance of 1000 of the largest and most liquid Indian companies within BSE AllCap.	Click here to know more about the index
BSE NEXT 500	The index measures the performance of the 500 companies within BSE 1000 that are not a part of BSE 500.	Click here to know more about the index.
BSE 250 MICROCAP	The index measures the performance of 250 of the largest and most liquid companies within BSE Next 500.	Click here to know more about the index.
BSE Next 250 MICROCAP	The index measures the performance of the 250 companies within BSE Next 500 that are not a part of BSE 250 MicroCap.	Click here to know more about the index.
BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%)	This index comprises the constituents comprising of BSE 100 LargeCap TMC, BSE 150 MidCap, BSE 250 SmallCap and BSE Next 500. Each of the above size segments is equally weighted at 25% and the constituents within the size segments are weighted based on free float market cap.	Click here to know more about the index.

Mr. Ashutosh Singh, MD and CEO of Asia Index Pvt. Ltd., highlighted the significance of these indices, stating, “BSE 1000 represents over 93% of India’s overall market capitalization and therefore will serve as a relevant benchmark for the overall stock market. The index is designed to serve as a comprehensive barometer of India’s growing economy, reflecting the diversity and dynamism of our corporate sector, representing companies that are industry leaders and emerging businesses.”

Further speaking on the bouquet of the five indices launched, Mr. Singh added "As market participation expands, liquidity improves, and investor confidence strengthens on the back of progressive and investor oriented regulatory changes, the indices will offer an opportunity to market participants to follow the progress of India's stock market overall with a special lens on the emerging companies. Historical trends and reclassification data consistently demonstrate that many of India’s established large caps and mid-caps once started out in the Next 500 grouping, reinforcing the opportunity within this segment”

These indices will enable market participants to identify and capitalize on the next wave of high-performing companies. They also serve as valuable tools for passive investment strategies, such as ETFs and index funds, as well as for benchmarking portfolio performance.

About ASIA INDEX PRIVATE LIMITED

Asia Index Private Ltd is a wholly owned subsidiary of BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. Asia Index Pvt. Ltd aims to provide a full array of indices to global / domestic investors and calculates, publishes, and maintains a diverse family of indices. For more details, please visit asiaindex.co.in

About BSE

BSE (formerly Bombay Stock Exchange Ltd.) is Asia’s oldest exchange. BSE has been playing a prominent role in developing the Indian capital market as India’s leading exchange group. BSE is a corporatized and demutualized entity with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

Market Cap of All Listed Co.s on BSE Increased by $61.2 Bn in A Single Day, Reaching Total of ~ $5,546 Bn

On Thursday, 12 September, the market capitalization of all listed companies on the Bombay Stock Exchange (BSE) surged by ₹5.14 lakh crore (about US $61.2 billion) in a single day, reaching a total of ₹465.9 lakh Crore (about US$ 5,546 billion). 

This significant increase was driven by a strong performance in the S&P BSE Sensex, which added 1,048.49 points, and the NSE Nifty50, which gained 343.65 points.

Notably, there has been an increase in foreign institutional investments (FIIs) in Indian equities, driven by the attractive valuations and growth prospects of Indian companies.

To recall, in mid of last week Prime Minister Narendra visited Singapore and met the country's top business leaders and CEOs. The CEOs from prominent Singaporean companies, include Blackstone Singapore, Temasek Holdings, Sembcorp Industries Limited, CapitaLand Investment, ST Telemedia Global Data Centers, and Singapore Airlines, pledged their commitment to invest in India.

Positive domestic economic indicators, including robust GDP growth and strong corporate earnings, have further bolstered investor confidence.

Supportive government policies and regulatory measures aimed at boosting economic growth and stability have also played a role in enhancing market sentiment.

Key sectors such as IT, banking, auto, and financial services saw notable gains, contributing to the overall market rise.

Last week, PM Modi visited Indonesia to attend the ASEAN-India Summit and the East Asia Summit and discussed strengthening economic and strategic ties with ASEAN countries. The prime minister emphasized cooperation in areas like trade, investment, and maritime security.

During his trips to Singapore, Indonesia as well as trip to Poland and Russia, in last month, several Memorandums of Understanding (MoUs), investment commitments were signed in areas such as digital cooperation, education and skills development, health and medicine, and the semiconductor ecosystem.

This has boosted the Foreign investors' confidence in Indian markets.

For the 1st Time Adani Group Company to be Included in Sensex; Wipro will be Excluded

Adani Ports and Special Economic Zone (APSEZ) will be included in the Sensex starting from June 24, 2024, replacing IT major Wipro. This change is part of the semi-annual rebalancing exercise announced by the Bombay Stock Exchange (BSE).

This marks the first time a company from the Adani Group will be added to the 30-share Sensex index. The inclusion of Adani Ports is expected to attract significant inflows from passive funds that track the index. On the other hand, Wipro is anticipated to see an outflow as a result of its exclusion from the Sensex.

Notably, in the Nifty50 index, there are two Adani stocks - Adani Ports and Adani Enterprises.

The Sensex, officially known as the S&P BSE Sensex, is the benchmark index of the Bombay Stock Exchange (BSE) in India. It is composed of 30 of the largest and most actively traded stocks on the BSE, which are considered representative of various industrial sectors of the Indian economy.

Significance of Sensex

The Sensex, short for the S&P BSE Sensex Index, is the benchmark index of the Bombay Stock Exchange (BSE) in India. Below are major significance of this:

1. Economic Indicator: The Sensex reflects the health of the Indian economy. It comprises 30 of the largest and most actively traded stocks on the BSE, which are considered representative of various key sectors.

2. Investor Sentiment: Movements in the Sensex can indicate investor sentiment. A rising Sensex suggests optimism and confidence in the market, while a falling index may signal caution or pessimism.

3. Investment Decisions: The Sensex influences investment decisions and portfolio management. Investors and analysts use it to track the performance of the market and compare it with individual stock performance.

4. Market Trends: It provides insights into the development and decline of specific industries, helping investors to understand market trends.

5. Global Benchmark: The Sensex is also tracked internationally, making it a global benchmark for the Indian stock market.

In a brief, the Sensex is a vital tool for investors, analysts, and policymakers to gauge the overall economic sentiment and make informed decisions. It's a barometer of the Indian stock market's performance and a reflection of the country's economic trajectory.

BSE Celebrates 149th Foundation Day; Unveils New Logo

BSE, Asia's oldest stock exchange, celebrated its 149th Foundation Day marching closer to landmark milestone of reaching a century and a half next year.

The Foundation Day celebrations were held at BSE International Convention Hall today. The celebrations began with traditional bell ringing ceremony. On this auspicious occasion, as a precursor to 150th Foundation Day, BSE unveiled its new logo. The new logo signifies prosperity, vibrance, growth and new beginnings besides emphasising continued trust and enhanced responsibility. The new logo was launched by Shri S.S. Mundra, Chairman of BSE. Board and Committee members of BSE and ICCL were present on the occasion.

Shri S.S. Mundra, Chairman paid tributes to all the founders of BSE for laying foundation for such a strong Institution. He also recalled the contributions made by past and present managements, Directors, erstwhile office bearers and staff of BSE in carrying the torch of BSE for nearly 150 years. Mr. Mundra said that BSE continues its journey to become stronger day by day through its agility, innovation, learning and unlearning.

While speaking on the occasion, Shri Sundararaman Ramamurthy, MD & CEO, BSE recalled the strong association of BSE with Indian Capital market including catalyst role played by BSE in facilitating fund raise by corporates for nearly 150 years, role in democratisation of capital, creation of vibrant secondary market etc.

Shri Ramamurthy also explained the genesis of the new logo reflecting vibrance that we are focused on spreading and the connection between colours used and Pancha Bhuta, The Five elements of Mother Nature namely Akash (Space), Vayu (Air), Agni (Fire), Jal (water) and Prithvi (Earth).

The deep blue represents ocean and sky which is the knowledge, integrity, and trustworthiness which BSE has built up over 149 years. The flame colour ranges from deep red to deep orange transforming itself into bright yellow signifying wonderful future that the employees together would create for BSE in the forthcoming years. The Diya is also a torch which BSE employees will carry to show light ahead for further development of capital markets.

BSE also showcased 4 new short films of investor education indicating the changes that one can expect in enhancing investor awareness with a difference.

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

Migration of Advait Infratech Limited from BSE SME Platform to BSE Mainboard

Advait, a leading company in product solutions for Indian power and telecom infrastructure projects, announced their migration from the BSE SME Platform to BSE Mainboard. Pursuant to Regulation 30 of the SEBI (Obligation and disclosure requirements) Regulations 2015, the exchange grants its In-Principle approval to the company’s application for listing & trading its equity shares on the BSE Mainboard Platform in terms of Regulation 277 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 of the Company.

Founded in 2009, Advait Infratech helps in providing robust products and solutions for power transmission, substation, and telecommunication infrastructure. Advait's product solutions serve both operational and marketing leaders and aim to support the long-term, comprehensive and efficient power delivery system of the country by providing cost-efficient and clean energy solutions.

Committed to tapping into the huge potential offered by the Indian Infratech industry, Advait is making the most of a buoyant market by accelerating renewable energy integration and paving the way for the transition to a sustainable and green economy in India. In the course of empowering a million lives through sustainable, competitive, and innovative products and solutions, Advait Infratech intends to continue to work on green hydrogen and renewable energy plants in the upcoming years to meet the Indian government’s clear targets to achieve net zero carbon emissions.

Shalin Sheth, Founder and Managing Director of Advait Infratech Limited commented, I am pleased to begin our next chapter as a public company. I believe that being a public company will underscore Advait’s long-term commitment to our nation, customers, investors, and the solution provider industry as a whole. He also added, “We have a bold vision for Advait - to help global enterprises better understand the importance of standardized global utility implementations by providing them holistic end-to-end solutions.

About Advait Infratech Limited

Advait Infratech Limited is an Ahmedabad-based company that offers robust products and end-to-end solutions for power transmission, substation, and telecommunication infrastructure and is diversifying into renewable energy in 2023.

Founded in 2009, Advait Infratech specialises in stringing tools, ACS wire manufacturing, OPGW operations, ERS, turnkey telecom projects, live line installations, green energy, fuel cells, insulators, conductors, transmission line towers, stringing tools, power transmission, and substation services. The company got listed on the Bombay Stock Exchange in 2020 and recently announced a 1:1 bonus issue for its shareholders.

BSE SME Platform - Resgen Ltd and ITCONS E-Solutions Ltd Get Listed

Resgen Limited and ITCONS E-Solutions Limited became the 423rd and 424th companies to get listed on the BSE SME Platform on March 13, 2023 after successfully completing its public issue on March 2nd.

Resgen Limited is a Mumbai registered company, engaged in the process of Manufacturing Pyrolysis Oil (Substitute for Furnace Oil) from all kinds of plastics (waste/scrap) during the manufacturing of the Pyrolysis Oil, some of its by products are generated such as Carbon (Substitute for Coal) and Gas (Substitute for LPG).

For details on the issue, please visit

https://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=2943&type=IPO&idtype=2&status=H&IPONo=6065&startdt=28-02-2023

ITCONS E-Solutions Limited is a New Delhi registered company, engaged in the business of providing human resource services. The company offers its services mainly in the organized sector to both public and private organizations. The service of the entity are primarily in the domain of Manpower Supply/Recruitment Services and Manpower Sourcing/Staffing Services.

For details on the issue, please visit

https://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=2944&type=FPO&idtype=2&status=H&IPONo=6066&startdt=28-02-2023

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market, and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE and other exchanges trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.

Largest Listing on the BSE Startup Board As Infurnia Files for IPO. Issue Opens on September 6

The startup filed its final IPO prospectus for raising INR 38.2 cr on August 30th.

Architecture and interior design software company, Infurnia, will launch their initial public offering (IPO) on 6th September. The issue will close on September 9. Infurnia is the largest listing on the BSE startup board.

The Bangalore based startup filed its draft red herring prospectus (DRHP) for the IPO with the Security Exchange Board of India (SEBI) for raising INR 38.2 cr. The issue will include 3,62,90,000 equity shares of face value ₹1/- each for cash at a price of INR 10/-per equity share.

The IPO will not have an offer for sale (OFS) component. Nikhil Kumar, Co-Founder and CEO and Lovepreet Mann, Co-Founder and CMO, will hold the largest share in the startup at a combined share of 50.64%.

The startup aims to invest 29.02 cr in its wholly owned subsidiary while INR 8.68 cr will be used for general corporate purposes. According to the IPO prospectus, the listing will allow Infurnia to expand and diversify its cloud-based offerings. The funds will also be directed towards expanding the team, expertise and capabilities by entering into new market segments and acquiring new customers.

Founded in 2014, Infurnia is a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens. Infurnia offers data management and collaboration tools, platform-independent accessibility, CAD, BIM and more to its users. In the past, the startup has raised over INR 10 cr in various funding rounds from several angel investors and VC firm Idein Ventures. Their customer base include brands such as Livspace, Spacewood, and Wakefit.

Since its inception, Infurnia has evolved from a web-only wardrobe configurator to a web-first building design, interior design and modular kitchen design application. The startup is working towards establishing a native multi-platform approach that would enable building native design applications for multiple desktop, tablet, mobile, virtual reality and server platforms in the future.

Infurnia believes that the future of the design industry lies in cloud-based platforms. Their goal is to create an collaborative and easy to access design platform for the architecture and interior

design ecosystem. Their product is aimed at enhancing productivity and bringing digital accountability on each stakeholder’s action throughout the life cycle of the project.

The IPO prospectus states that the market in which Infurnia operates is laden with competition, keeping the pressure up on the startup. The company may face competition from some Indian as well as internationally recognized technology services companies.

Infurnia’s IPO prospectus can be found on the BSE website.

About Infurnia

Infurnia is a cloud-based architecture design software platform. Founded in 2014 by Nikhil Kumar and Lovepreet Mann, the platform for architects and designers helps them design buildings, interiors, modular kitchens and floor plans. Their approach allows professional designers to implement BIM (Building Information Modeling) in their design and collaborate with other designers, get interactive feedback and more. You can learn more at https://www.infurnia.com/

About BSE Startup Board

As per the regulations laid down by SEBI, BSE Ltd set up the BSE startup board. BSE startup board enables listing of SMEs throughout India, enabling them to raise funds through the equity market. Start-ups seeking listing on BSE startup platform should be in the sector of IT, ITES, Bio-technology and Life Science, 3D Printing, Space technology, E-Commerce, Hi- Tech Defense, Drones, Nano Technologies, Artificial Intelligence, Big data and Enhance/Virtual Reality.

U Gro Capital to Become the 1st Fintech Lending Platform to Be Listed on Both Stock Exchanges Starting August 11

To get listed on the National Stock Exchange on August 11; was previously listed on Bombay Stock Exchange

Aims to expand access to a larger set of investors and broker network

U GRO Capital, a technology enabled small business lending NBFC, today announced that it will get listed on the National Stock Exchange (NSE) on August 11. The company is listed on Bombay Stock Exchange (BSE) and with the NSE listing, the company aims to expand access to a larger set of investors and broker network. U GRO Capital’s fully paid-up 70,528,550 shares with face value of Rs. 10 each, symbol UGROCAP and series EQ, will be admitted to dealings on NSE.

U GRO Capital was instituted in 2017 by Mr. Shachindra Nath, with the buyout of Chokhani Securities Limited. This followed its re-capitalization and rebranding with a Tech-enabled MSME Lending Business model and diverse management team amassing 250 years of combined experience across the financial spectrum. The company has raised approximately INR 920 crore of capital from a diversified set of institutional investors like private equity funds and well-known family offices.

This model of acquiring a small, listed company and raising significant capital to build a FinTech platform was an industry first conceptualization. In most cases, the benefit of value creation through early-stage formation is only available to private investors. This distinctive model was adopted by U GRO Capital to provide the similar benefit to millions of retail investors in public markets.

The company is focused on addressing capital needs of small businesses operating in select eight sectors & Microenterprises by providing customized loan solutions. Towards the realization of the same, the company has built a distinctive technology architecture, a robust and highly efficient distribution channel. This has allowed the company to scale up to 34 branches across 9 states and serve over 9,000 MSME customers, within just three years of operations.

U GRO aspires to build an INR 20,000 Crores of asset under management in next five years and take approximately 1% market share of the outstanding MSME Credit in India by opening around 270 branches with an aim to serve over lacs of small business customers.

Mr. Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital said -

We, at U GRO Capital, are delighted and consider getting listed on National Stock Exchange as a significant milestone. With this development, we aim to expand access to a larger set of investors and broker community. Our progress in three years has resonated well with our mission of solving the unsolved MSME credit gap. Continuing the momentum of achieving significant milestones as this, we plan to acquire 1% market share of the MSME lending business in India in the next five years, thereby creating value for our growing investor community.

U GRO Capital limited is a BSE listed, small business lending fintech platform. The Company is focused on addressing capital needs of small businesses operating in select eight sectors by providing customized loan solutions.

U GRO Capital’s mission is ‘Solve the Unsolved’ – Small Business Credit Need. U GRO Capital believes that the problem of small businesses can be solved by building deep expertise around core sectors of SMEs in India coupled with a data centric, technology-enabled approach.

The Company has raised ~INR 920 crore of capital from a diversified set of private equity funds like institutional investors and well-known family offices.

The Company strives to build a strong SME financing platform based on sectoral understanding supplemented by a fully integrated technology and analytics platform.

Sensex Plunges 10%, Trading Halts for 45 Mins

Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

After opening 2,718 points lower, the BSE barometer plunged 2,991.85 points or 10 per cent to
26,924.11.

Similarly, the NSE Nifty fell 842.45 points, or 9.63 per cent, to 7,903.

As an automatic mechanism to freefall in the market, when an exchange plunges 10 per cent before 1 pm, trading is halted on stock exchanges for 45 minutes.

All Sensex components were trading in the red, with Axis Bank tanking up to 20 per cent, followed by ICICI Bank, IndusInd Bank, Bajaj Finance, Hero MotoCorp and M&M.

According to traders, extreme lockdown measures taken by government in India and world over has put immense pressure in investor sentiment.

As the virus cases climbed, the central and state governments in the country decided to lock down 75 districts from where Covid-19 cases have been reported to break the chain of transmission, and the Health Ministry said states would earmark hospitals to exclusively treat coronavirus patients.

Putting in place a tighter framework to curb high market volatility, Securities and Exchange Board of India (Sebi) on Friday announced revising market wide position limit for stocks in the derivatives segment, flexing dynamic price bands and other measures for one month starting from March 23.

These steps would limit short selling of shares as well as reduce volatility in individual stocks.

Stock exchanges and regulatory officials, however, dismissed suggestions about curtailment of trading hours in wake of the pandemic.

Bourses in Shanghai, Hong Kong and Seoul plunged up to 4 per cent, while Tokyo was trading with gains.

The rupee too plunged 92 paise against US dollar to 76.12.

Meanwhile, Brent crude oil futures fell 3 per cent to USD 26.17 per barrel.

The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000. Cases in India rose to 390 over the weekend, according to the Health Ministry. PTI

Start-Up IPO Alpahlogic Techsys Subscribed 64% On First day of Bidding

The initial public offer (IPO) of boutique software consulting firm Alphalogic Techsys was subscribed 64 per cent on the first day of the bidding process.

The IPO with issue size of Rs 6.18 crore, received bids for 4,70,400 Shares against the total issue size of 7,36,000 shares as per the BSE data.

The category reserved for Non Institutional Investors (NIIs) which include HNI's and Corporates subscribed 125%, whereas retail individual investor category got subscribed 11%.

The company has fixed a price of Rs 84 per share. The issue will close on Wednesday. Alphalogic’s IPO comprises of a fresh issue aggregating up to Rs 6.18 crore and an offer for sale of up to 7,36,000 equity shares.

Finshore Management Services Limited is the book-running lead managers to the offer.

Alphalogic Techsys Limited is a boutique Software Consulting Firm that helps its clients with their digital transformation needs. Alphalogic' motto is "Making Software Simple". Alphalogic has its development centre in Pune, India but serves its customers globally. Alphalogic works with clients from early stage start-ups to established SMB's and Fortune 500s from over 12 countries.

It was in November last year, when BSE Startups Platform was rolled out for entrepreneurs to list their new-age companies on BSE.

Software Firm Alphalogic Techsys could be 1st Startup co. to Get Listed on BSE Startup Platform

Recently, Bombay Stock Exchange (BSE) organized an SME summit on the World SME Day to celebrate the 300th listing on the BSE SME Platform, a dedicated platform for listing of startups and thereby making stock market listing attractive for startups in the country.

BSE then accepted the IPO applications for first two companies for the BSE Startups Platform. One of the two startups whose IPO application got approved is, Alphalogic Techsys Limited, which is coming up with an IPO and planning to get listed on the BSE Startup platform.

Pune-based Alphalogic would be one the first startup companies to get listed on the BSE Startup platform, after the approval. Alphalogic has its development center in Pune and Sales office at Arlington, USA.

The company submitted its DRHP (Draft Red Herring Prospectus) to the Bombay Stock Exchange on June 27, 2019 during the SME summit organised by the BSE on the World SME Day in Mumbai. The prospectus was unveiled by Hon. Finance Minister of Maharashtra Shri Sudhir Mungantiwar and Hon. Employment Minister of Maharashtra Shri Jayakumar Rawal.

[caption id="attachment_132644" align="aligncenter" width="1024"] (Left to Right) - Mr. Ajay Thakur, Head - BSE-SME Platform; Mr. Ramakrishna Iyengar, Director, Finshore Group (Merchant Banker); Mr. Dhananjay Goel, Director, Alphalogic Techsys Limited; Mr. Lakshman Iyengar, Director, Finshore Group (Merchant Banker), Mr. Ashishkumar Chauhan, MD & CEO, BSE; Shri. Sudhir Mungantiwar Minister Finance, Govt. of Maharashtra; Shri, Jayakumar Rawal, Minister Employment, Govt. of Maharashtra; Mr. Anshu Goel, MD of Alphalogic Techsys Limited; Mr. Neeraj Kulshrestha, Chief Business Officer, BSE[/caption]

The BSE Startups Platform was rolled out for entrepreneurs, in November last year, to list their new-age companies on BSE. This has been seen an attempt to give a fresh impetus to the Indian startup eco-system. Alphalogic is very confident to get listed on this BSE startup platform. The company has been instrumental in empowering its clients to adapt to the digital transformational needs by offering them solutions based on the latest technologies, such as artificial intelligence, automation, data analytics, machine learning, M-to-M communication and so on. With a large clientele in India and overseas, Alphalogic is hopeful of winning the investor’s trust, once the IPO will be rolled out.

The company’s IPO is expected to come out in the month of August this year.  One can learn more about the company by visiting their website https://www.alphalogicinc.com/.

Established in April 2016, Alphalogic Techsys Limited is a Software Solutions Company with its development center in Pune. Alphalogic helps its clients with their digital transformation needs.  The company provides a range of services including Product re-engineering, Prototyping, Mobile Application development, SAAS software development, Data Analytics & BI, Artificial Intelligence, etc. Alphalogic's clients range from early stage startups to Fortune 500 companies.

The founders of the Company have been running the business in the same space for more than 10 years. The collective experience of the founders in the Information Technology space is of more than 2 decades and which is helping the company to grow by leaps and bounds.

To recall, few days back Hyderabad-based micro-finance lender Spandana Sphoorty Financial had raised Rs. 360.28 crore from 18 anchor investors and announced that its IPO will open on August 5.

To Boost the Startups platform BSE Ties with HDFC Bank

With an aim to further strengthen the "BSE Startups platform", a dedicated platform for listing of startups by BSE (formerly Bombay Stock Exchange), Asia’s oldest exchange, has signed a memorandum of understanding (MoU) with HDFC Bank. The MoU has been signed to spread more awareness on the benefits of listing on BSES Startups on this platform.

BSE had launched the Start Up platform on December 22, 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.

Benefits -

• Develop awareness of BSE's Startup platform amongst HDFC Bank's portfolio of startups. Also, extend value-added support for eligible startups, along with BSE for the listing



• Offer Banking and Lending solutions to eligible start-ups already listed or due-to-list on BSE Startup platform



• 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.

Commenting on the collaboration, Shri Ajay Kumar Thakur, Head BSE SME & Start Up said, “BSE is the first exchange to have launched the Start Up platform. The idea was to help entrepreneurs look beyond the conventional channels of raising capital and enable them to list on the stock exchange to further enhance the credibility of the firm. While we have conducted numerous seminars in Tier 1, 2 and 3 cities on the benefits of listing on the BSE Start Up platform, we believe by associating with a leading bank like HDFC that boasts of a large network, presence and Start up base would enable more firms to choose our platform and raise funds as well as improve productivity."

Commenting on the association, Ms Smita Bhagat, Country Head – Government, e-commerce and Start-ups, HDFC Bank, “This is part of our commitment to the larger cause of strengthening the Startup community/ecosystem in the country. Startups are today reimagining and reshaping the world we live in. We are already partnering with them by mentoring them and giving them a chance to work with us. We are extremely happy to reinforce our commitment to them through this partnership with BSE”.

Established in 1875, BSE is India’s leading exchange group and now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful.

BSE Launches 'BSE Startup Platform', A New Division for Listing of Startups

Indian stock exchange in Mumbai, the Bombay Stock Exchange (BSE) or BSE Ltd, has just announced the creation of a new division withi BSE SME, its SME segment, to list the new-age companies and thereby making stock market listing attractive for startups in the country.

The startup listing platform, which was scheduled for in July but postponed, has now finally launched and will facilitate the listing of companies in sectors like IT, ITeS, biotechnology and life sciences, 3D printing, space technology and e-commerce. The platform will also aid in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among other sectors.

“In order, to incentivize startup companies...the exchange is pleased to announce the creation of a new sub-segment within the existing SME (small and medium enterprise) segment,” BSE said in a circular.

In eligibility criteria for a startup to list on the platform, the BSE said that the company should be registered as a startup with the Ministry of Micro, Small & Medium Enterprises or Department of Industrial Policy & Promotion. In case the company is not registered as a startup, then its paid-up capital should be minimum ₹1 crore. The company should be in existence for a minimum period of two years, besides qualified institutional buyer (QIB) or angel investor or any other accredited investor should have invested in the firm for a minimum period of two years at the time of filing of the draft prospectus with the BSE.

The firm should have positive net-worth and none of the promoters or directors of the startup should have been debarred by any regulatory agency.

Further, the exchange said, the firm seeking to list on the platform should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code and there should be no winding up petition against the company that has been accepted by NCLT.

Source - LiveMint.com

Stock Xchange BSE's Institute & Israel's Sasha Infra Join Hands To Promote Startups in Water Conservation Space

Water is essential and everybody knows it however crisis of same is not unknown too. From depleting water table to drinking water shortage, there are several issues pertaining to water, across India. In a welcome step towards solving this future-havoc problem, BSE Institute, a wholly owned subsidiary of leading stock exchange BSE, has joined hands with Sasha Infrastructure, which is a leading water and infrastructure Services Company that represents several water tech companies from Israel.

The collaboration will focus on driving this innovation in India with the involvement of organizations from Israel who are world leaders in this domain.

Both the entities have signed a memorandum of understanding (MOU) to promote startups and entrepreneurs in the domain of water conservation and technology. The MoU was signed by Ambarish Datta, MD and CEO at BSE Institute, and Romiel Samuel, MD, Sasha Infrastructure, Israel.

"The objective of the collaboration is to promote startups in the domain of sustainable water-related infrastructure and services," BSE said in a statement.

Initially, the startups to be considered shall be in the field of water well refurbishment, ground water recharge, waste water treatment, etc. which shall create sustainable impact in water tech.

The purpose and nature of the water infrastructure investments needs have significantly expanded to water supply and sanitation, flood protection, drought management, and water quality management.

As per the statement, innovative startups can reduce overall investment needs and improve capital efficiency through improving the operational effectiveness of existing water infrastructure.

Ashish Chauhan, Managing Director and CEO of BSE Ltd, said startups have a critical role to play in this domain by evolving innovative solutions to address this issue.

"It's delighting to see India and Israel cooperating once again on this strategic field of water," Consul General of Israel in Mumbai Yaakov Finkelstein said.

Israel & Water Tech

Israel is the leader in water technology in the world. It has perfected the modern-day version of the innovative process of drip irrigation, and since 1959, has taken it to the next level, so much so that other countries, both developed and developing, want a piece of the action.

Israel recycles about 87% of its water. The country that has dedicated the greatest resources, innovation, and cultural attention to the problem of water scarcity. Today, it leads the way in solving problems of water supply, spearheading efforts to deal with water leakage, farming efficiency, recycling waste, desalination, pricing policy, and education.

A year ago, India and Israel have deepened their business relationship by the launch of a technology fund, the Israel India Innovation Initiative Fund, or I4F, that focuses towards growing the two countries' business relations.

It may also be recalled that, in August last year, the Nasscom Product Council and Accenture, an IT consulting major have had together joined hands with Israel Innovation Authority to help startups to grow and nurture.

News sourced from Times of India

Now Startups Can Get Listed on BSE from 9 July Onwards; Here're the Criteria

In our previous story we explained that how market regulator Securities and Exchange Board of India (Sebi) has allowed startups to list on the small and medium enterprises (SME) platform of the stock exchanges as an opportunity to raise capital apart from traditional funding routes such as Venture Capital, private equity and angel investment.

Now in a latest development, the Bombay Stock Exchange (BSE) is on verge to launch a new platform for startups and SMEs to get listed, which would begin from July 9 this year.

The platform will facilitate listing of companies from IT, ITeS, biotechnology and life science, 3D printing, space technology, e-commerce, Hi-tech defence, drones, nano technology, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering, variable computers inside body computer technology and any other hi-tech sectors.

In a circular, the stock exchange said, "To provide further incentive to companies which are 'startups' in sectors like IT, ITeS, biotechnology and life sciences, the exchange is pleased to announce that the BSE Startup Platform has been enabled in the BSE SME Segment."

The criteria for listing on “BSE Startup Platform” is as follows:

1. The pre issue paid up Equity share Capital of the company should be minimum of Rs. 1 crore.




2. The company should be in existence for a minimum period of 3 years on the date of filing the draft prospectus with BSE




3. There should preferably have investment by QIB investors (as defined under SEBI ICDR Regulations, 2009) / Angel Investors for a minimum period of 2 years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs. 1 crore




4. The company should have positive net-worth




5. The Company should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016




6. There should be no winding up petition against the company that has been accepted by the National Company Law Tribunal (NCLT)

The companies listing on BSE Startup Platform with the above mentioned criteria will follow all the other conditions applicable for listing of SME Companies under Chapter XB of “SEBI (ICDR) Regulations, 2009”, relating to disclosures, migration to main Board, etc.

It may be recalled that last month, E2E Networks Ltd, which is largely a bootstrapped startup that counts Blume Ventures as one of its few major investors, raised about ₹22 Crore by listing on SME platform of NSE, NSE Emerge.

Now Startups Can Get Listed on BSE from 9 July Onwards; Here're the Criteria

In our previous story we explained that how market regulator Securities and Exchange Board of India (Sebi) has allowed startups to list on the small and medium enterprises (SME) platform of the stock exchanges as an opportunity to raise capital apart from traditional funding routes such as Venture Capital, private equity and angel investment.

Now in a latest development, the Bombay Stock Exchange (BSE) is on verge to launch a new platform for startups and SMEs to get listed, which would begin from July 9 this year.

The platform will facilitate listing of companies from IT, ITeS, biotechnology and life science, 3D printing, space technology, e-commerce, Hi-tech defence, drones, nano technology, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering, variable computers inside body computer technology and any other hi-tech sectors.

In a circular, the stock exchange said, "To provide further incentive to companies which are 'startups' in sectors like IT, ITeS, biotechnology and life sciences, the exchange is pleased to announce that the BSE Startup Platform has been enabled in the BSE SME Segment."

The criteria for listing on “BSE Startup Platform” is as follows:

1. The pre issue paid up Equity share Capital of the company should be minimum of Rs. 1 crore.




2. The company should be in existence for a minimum period of 3 years on the date of filing the draft prospectus with BSE




3. There should preferably have investment by QIB investors (as defined under SEBI ICDR Regulations, 2009) / Angel Investors for a minimum period of 2 years at the time of filing of draft prospectus with BSE and such aggregate investment should be at least Rs. 1 crore




4. The company should have positive net-worth




5. The Company should not have been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016




6. There should be no winding up petition against the company that has been accepted by the National Company Law Tribunal (NCLT)

The companies listing on BSE Startup Platform with the above mentioned criteria will follow all the other conditions applicable for listing of SME Companies under Chapter XB of “SEBI (ICDR) Regulations, 2009”, relating to disclosures, migration to main Board, etc.

It may be recalled that last month, E2E Networks Ltd, which is largely a bootstrapped startup that counts Blume Ventures as one of its few major investors, raised about ₹22 Crore by listing on SME platform of NSE, NSE Emerge.