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<div type="image" title="In 2024, India has seen around $12.2 billion worth of IPOs, including mainboard and SMEs" msid="113878163" hostid="261" sizebytes="45300" caption="&amp;lt;p&amp;gt;In 2024, India has seen around $12.2 billion worth of IPOs, including mainboard and SMEs&amp;lt;/p&amp;gt;"></div> Missing some action, adrenaline rush, and thrill in your life? Are the good old, albeit mundane money investment avenues like mutual funds and fixed deposits not making the cut for you? Want to experience a heart-pounding, financial rollercoaster that will constantly keep you and your portfolio on tenterhooks? Well then, welcome to the world of initial public offers (IPOs), especially those brought to you by SMEs, or <keyword id="6375845" type="General" weightage="20" keywordseo="Small-and-Medium-Enterprises" source="Orion">small and medium enterprises</keyword>. Truth be told, <keyword id="19938687" type="General" weightage="20" keywordseo="sme" source="keywords">SME</keyword> IPOs have been all over the bourses this year. So far, 2024 has seen 206 SMEs debuting on both BSE and NSE, out of which 146 listed in gains and 46 listed in losses. Odds seem good, right? In contrast, the year has only seen 63 IPOs from the elder brother i.e. mainboard, only 48 of which managed to post any listing gains. And getting an allotment has also been a major uncertainty, given the unusually high demand this year. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">So, what's an <keyword id="5559702" type="General" weightage="100" keywordseo="SME-IPO" source="Orion">SME IPO</keyword>, you ask?</h2>Think of a mainboard company as Shah Rukh or Salman Khan—well-established, financially stable, strong legacy of profitability, and fairly well-known. On the other hand, SMEs are your Prateek Gandhi (Harshad Mehta, Scam 1992), Siddhant Chaturvedi (MC Sher, Gully Boy) or Avinash Tiwary (Majnu, Laila Majnu). While they are doing super well, they are yet to make it big like the Khans. They’re currently underdogs, lesser known, but who knows? They can be the next big thing in the future! And SME IPOs are getting a stellar reception. In 2023, 182 such IPOs had raised a substantial Rs 4,967 crore. In 2024, more than 200 companies have already raised over Rs 7,500 crore, and we have four months to go. This, with one quarter of the year still remaining. <div type="image" title="In 2024, India leads IPO activity in the Asia-Pacific region" height="900" width="1200" msid="113875643" hostid="261" caption="&amp;lt;p&amp;gt;In 2024, India leads IPO activity in the Asia-Pacific region&amp;lt;/p&amp;gt;"></div> But what does it take for a company to be classified as a small enterprise? The company has to have an annual turnover/income of up to Rs 50 crore, and for a medium enterprise to be called so, its annual income has to be up to Rs 250 crore. When such companies go public, in a bid to raise funds from investors and expand their operations, they launch an <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>, but not on the main exchange, but separately, on NSE’s Emerge and BSE’s SME platform. As of September 2024, <keyword id="4484133" type="General" weightage="20" keywordseo="NSE-Emerge" source="Orion">NSE Emerge</keyword> has 147 listed participants, while <keyword id="1885131" type="General" weightage="20" keywordseo="BSE-SME" source="Orion">BSE SME</keyword> has 155 market makers. Mounting an SME’s IPO is comparatively less stringent than their mainboard counterparts, as far as regulations are concerned since their DRHPs (draft red herring prospectus) are not filed with SEBI. So, wouldn’t a lenient treatment make them inherently riskier? Why are they so appealing, you ask? <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> Well, for one, some of them have delivered exceptional returns—we’re talking 100%, 200%. Consider this—Owais Metal and Mineral Processing, which launched its IPO in February this year, delivered a whopping listing gain of 201%. Another SME, Maxposure, whose IPO was out in January 2024, had earned its investors listing gains worth 317.40%! Apparently, higher risks also mean higher returns, and also super high investment. Most SME IPOs need a minimum investment of Rs 1,00,000 or more, as opposed to mainboard IPOs, where you can buy one lot of shares for anywhere between Rs 14,000-15,000. Even the minimum trading lot size for SME shares is about 10,000. In short, you’d have to potentially empty your pockets to invest in an SME IPO. And still, there’s no guarantee that the listing will fill your wallets. For all you know, your pockets before and after the IPO is listed might stay the same - EMPTY! There's also the question of whether or not these SMEs are able to maintain their listing day mojo, or do they just fizzle out thereafter? Data from Prime Database highlights more instances of the latter. As of August 2024, about 166 SME IPOs had made it to the exchanges. Around 72 of them, or close to 50%, could not sustain their momentum going ahead, and were trading below their listing day prices. Consider this. The post listing gains of Medicamen Organics, whose IPO came out in June 2024, earned its investors massive listing gains of over 300%, by listing at Rs 137.85, significantly higher than its price issue price, which was set between Rs 32-34. But as of October 1, 2024, the stock was trading at Rs 64.2. Talk about falls. Additionally, risks of pump-and-dump, and illiquidity, among others makes SME IPOs dangerous See, you're largely venturing into unknown, pitch-dark territories, without much light to guide you. For starters, SME IPOs face less scrutiny from market watchdog SEBI. This also means they are able to list quickly, just 3-4 months. On the other hand, mainboard IPOs can take upto a year before they are cleared for listing. Also, there is far less information and disclosures available about their financials, fundamentals and performance to investors for making an informed decision, as compared to mainboard stocks. Then there’s the issue of illiquidity. Once purchased, you might find it hard to sell off your SME stocks, since they are not traded as frequently in the market, which means lower liquidity. Trivesh D, COO, Tradejini explains that liquidity is a major concern for such stocks. “These stocks typically have a smaller free float, and are traded in lots, which can lead to volatility and sharp price swings. This means it can be challenging for investors to buy or sell shares without significantly impacting prices. Additionally, speculative trading practices, like 'pump-and-dump' schemes, can inflate stock prices, leaving retail investors vulnerable to sudden drops”. Recently, SME IPOs have gained notoriety for price manipulation via showing fictitious sales and revenue in their books of accounts, selling of promoter holdings at inflated prices, and being the facade for many infamous pump and dump schemes. This is where select people create frenzy, or mass euphoria over a particular stock or company, causing its prices to soar, and then dumping them, or selling their shares at this massive price to make a killing! Infact, it's not just the promoters, but also the investment banks floating these IPOs. At present, SEBI is investigating around 6 investment banks which have allegedly charged SMEs a staggering 15% of funds raised via IPOs as fee, as opposed to the standard 1-3%. In March 2024, SEBI chairperson Madhabi Puri Buch had also highlighted witnessing signs of manipulation in the SME space. “We do see signs of manipulation in the SME segment. We are able to see certain patterns.” Buch had observed back then. Adds Kresha Gupta, Founder &amp; Director, StepTrade Share Services, “Investing in SME IPO comes with significant risks, despite their impressive returns in recent years. Limited participation from institutional investors and public in some SME IPOs also mean that those companies may lack the support and stability that comes with larger-scale investments” “Additionally, many SMEs may not have strong fundamentals to justify their valuations. High P/E ratios can be misleading, and while some IPOs have delivered impressive returns, they often come with significant volatility, continues D of Tradejini. <h2 style="box-sizing: border-box; border: 0px; outline: 0px; padding: 0px; margin: 0px 0px 0.7em; font-family: &quot;Open Sans&quot;, sans-serif; font-weight: 700; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; list-style: none; background: 0px 0px; text-rendering: optimizelegibility; text-transform: none; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">So, should I stay away?</h2>Yes, and No. Yes, if you don't want to do your homework of researching the company thoroughly beforehand. Anand K. Rathi, Co-Founder of MIRA Money suggests asking a couple of questions before investing your hard earned money: <ul><li>What is the company's financial performance over the past 3-4 years?</li><li>What is the company's governance structure?</li><li>Is the financial success driven by the IPO, or is it a result of consistent performance?</li><li>Does the company have what it takes to scale its operations to the next level?</li><li>Are the company’s promoters trustworthy, capable and experienced?</li><li>What is the level of participation by large, institutional investors?</li></ul> But staying away completely? Not necessary. Gupta adds that retail investors, in particular, should avoid viewing SME IPOs as quick money-makers based on their short-term performance, as this can certainly lead to poor investment decisions. “To mitigate risks, investors should always focus on long-term fundamentals rather than just short-term price movements. Key indicators include the participation of institutional investors like DIIs and FIIs. This often signals confidence in the stock”, she continues. A red flag you should look out for is if a company is only offering OFS, or Offer for Sale. This can indicate early investors looking to exit, potentially signaling weaker future growth. That's why it is better to look for companies which are raising capital for expansion purposes. This is a sign of healthy business growth prospects and improving fundamentals. In conclusion, backing the underdog, or SMEs, is not a bad proposition, but not without its risks. Investing in SME IPOs is like riding a unicorn—but you don't know whether you're riding it to rags or riches! So, take your pick.

SIMPLY PUT: Why investing in SME IPOs should not be on top of your adventure to-do list!

Missing some action, adrenaline rush, and thrill in your life? Are the good old, albeit mundane money investment avenues like mutual funds and fixed deposits not making the cut for you? Want to experience a heart-pounding, financial rollercoaster that will constantly keep you and your portfolio on tenterhooks? Well then, welcome to the world of initial public offers (IPOs), especially those brought to you by SMEs, or <keyword id="6375845" type="General" weightage="20" keywordseo="Small-and-Medium-Enterprises" source="Orion">small and medium enterprises</keyword>. Truth be told, <keyword id="3704207" type="General" weightage="100" keywordseo="SME-IPOs" source="Orion">SME IPOs</keyword> have been all over the bourses this year. So far, 2024 has seen 206 SMEs debuting on both BSE and NSE, out of which 146 listed in gains and 46 listed in losses. Odds seem good, right? In contrast, the year has only seen 63 IPOs from the elder brother i.e. mainboard, only 48 of which managed to post any listing gains. And getting an allotment has also been a major uncertainty, given the unusually high demand this year. <h2>So, what's an SME <keyword id="6354763" type="General" weightage="20" keywordseo="IPO" source="Orion">IPO</keyword>, you ask?</h2>Think of a mainboard company as Shah Rukh or Salman Khan—well-established, financially stable, strong legacy of profitability, and fairly well-known. On the other hand, SMEs are your Prateek Gandhi (Harshad Mehta, Scam 1992), Siddhant Chaturvedi (MC Sher, Gully Boy) or Avinash Tiwary (Majnu, Laila Majnu). While they are doing super well, they are yet to make it big like the Khans. They’re currently underdogs, lesser known, but who knows? They can be the next big thing in the future! And SME IPOs are getting a stellar reception. In 2023, 182 such IPOs had raised a substantial Rs 4,967 crore. In 2024, more than 200 companies have already raised over Rs 7,500 crore, and we have four months to go. This, with one quarter of the year still remaining. <div type="image" title="In 2024, India leads IPO activity in the Asia-Pacific region" height="900" width="1200" msid="113875643" hostid="261" caption="&amp;lt;p&amp;gt;In 2024, India leads IPO activity in the Asia-Pacific region&amp;lt;/p&amp;gt;"></div> But what does it take for a company to be classified as a small enterprise? The company has to have an annual turnover/income of up to Rs 50 crore, and for a medium enterprise to be called so, its annual income has to be up to Rs 250 crore. When such companies go public, in a bid to raise funds from investors and expand their operations, they launch an IPO, but not on the main exchange, but separately, on NSE’s Emerge and BSE’s SME platform. As of September 2024, <keyword id="4484133" type="General" weightage="20" keywordseo="NSE-Emerge" source="Orion">NSE Emerge</keyword> has 147 listed participants, while <keyword id="1885131" type="General" weightage="20" keywordseo="BSE-SME" source="Orion">BSE SME</keyword> has 155 market makers. Mounting an SME’s IPO is comparatively less stringent than their mainboard counterparts, as far as regulations are concerned since their DRHPs (draft <keyword id="12225712" type="General" weightage="20" keywordseo="Red-herring-prospectus" source="Orion">red herring prospectus</keyword>) are not filed with SEBI. So, wouldn’t a lenient treatment make them inherently riskier? Why are they so appealing, you ask? <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> Well, for one, some of them have delivered exceptional returns—we’re talking 100%, 200%. Consider this—Owais Metal and Mineral Processing, which launched its IPO in February this year, delivered a whopping listing gain of 201%. Another SME, Maxposure, whose IPO was out in January 2024, had earned its investors listing gains worth 317.40%! Apparently, higher risks also mean higher returns, and also super high investment. Most SME IPOs need a minimum investment of Rs 1,00,000 or more, as opposed to mainboard IPOs, where you can buy one lot of shares for anywhere between Rs 14,000-15,000. Even the minimum trading lot size for SME shares is about 10,000. In short, you’d have to potentially empty your pockets to invest in an SME IPO. And still, there’s no guarantee that the listing will fill your wallets. For all you know, your pockets before and after the IPO is listed might stay the same - EMPTY! There's also the question of whether or not these SMEs are able to maintain their listing day mojo, or do they just fizzle out thereafter? Data from Prime Database highlights more instances of the latter. As of August 2024, about 166 SME IPOs had made it to the exchanges. Around 72 of them, or close to 50%, could not sustain their momentum going ahead, and were trading below their listing day prices. Consider this. The post listing gains of Medicamen Organics, whose IPO came out in June 2024, earned its investors massive listing gains of over 300%, by listing at Rs 137.85, significantly higher than its price issue price, which was set between Rs 32-34. But as of October 1, 2024, the stock was trading at Rs 64.2. Talk about falls. Additionally, risks of pump-and-dump, and illiquidity, among others makes SME IPOs dangerous See, you're largely venturing into unknown, pitch-dark territories, without much light to guide you. For starters, SME IPOs face less scrutiny from market watchdog SEBI. This also means they are able to list quickly, just 3-4 months. On the other hand, mainboard IPOs can take upto a year before they are cleared for listing. Also, there is far less information and disclosures available about their financials, fundamentals and performance to investors for making an informed decision, as compared to mainboard stocks. Then there’s the issue of illiquidity. Once purchased, you might find it hard to sell off your SME stocks, since they are not traded as frequently in the market, which means lower liquidity. Trivesh D, COO, Tradejini explains that liquidity is a major concern for such stocks. “These stocks typically have a smaller free float, and are traded in lots, which can lead to volatility and sharp price swings. This means it can be challenging for investors to buy or sell shares without significantly impacting prices. Additionally, speculative trading practices, like 'pump-and-dump' schemes, can inflate stock prices, leaving retail investors vulnerable to sudden drops”. Recently, SME IPOs have gained notoriety for price manipulation via showing fictitious sales and revenue in their books of accounts, selling of promoter holdings at inflated prices, and being the facade for many infamous <keyword id="10663340" type="General" weightage="20" keywordseo="Pump-and-Dump" source="Orion">pump and dump</keyword> schemes. This is where select people create frenzy, or mass euphoria over a particular stock or company, causing its prices to soar, and then dumping them, or selling their shares at this massive price to make a killing! Infact, it's not just the promoters, but also the investment banks floating these IPOs. At present, SEBI is investigating around 6 investment banks which have allegedly charged SMEs a staggering 15% of funds raised via IPOs as fee, as opposed to the standard 1-3%. In March 2024, SEBI chairperson Madhabi Puri Buch had also highlighted witnessing signs of manipulation in the SME space. “We do see signs of manipulation in the SME segment. We are able to see certain patterns.” Buch had observed back then. Adds Kresha Gupta, Founder &amp; Director, StepTrade Share Services, “Investing in SME IPO comes with significant risks, despite their impressive returns in recent years. Limited participation from institutional investors and public in some SME IPOs also mean that those companies may lack the support and stability that comes with larger-scale investments” “Additionally, many SMEs may not have strong fundamentals to justify their valuations. High P/E ratios can be misleading, and while some IPOs have delivered impressive returns, they often come with significant volatility, continues D of Tradejini. <h2>So, should I stay away? </h2>Yes, and No. Yes, if you don't want to do your homework of researching the company thoroughly beforehand. Anand K. Rathi, Co-Founder of MIRA Money suggests asking a couple of questions before investing your hard earned money: <ul><li>What is the company's financial performance over the past 3-4 years?</li><li>What is the company's governance structure?</li><li>Is the financial success driven by the IPO, or is it a result of consistent performance?</li><li>Does the company have what it takes to scale its operations to the next level?</li><li>Are the company’s promoters trustworthy, capable and experienced?</li><li>What is the level of participation by large, institutional investors?</li></ul> But staying away completely? Not necessary. Gupta adds that retail investors, in particular, should avoid viewing SME IPOs as quick money-makers based on their short-term performance, as this can certainly lead to poor investment decisions. “To mitigate risks, investors should always focus on long-term fundamentals rather than just short-term price movements. Key indicators include the participation of institutional investors like DIIs and FIIs. This often signals confidence in the stock”, she continues. A red flag you should look out for is if a company is only offering OFS, or Offer for Sale. This can indicate early investors looking to exit, potentially signaling weaker future growth. That's why it is better to look for companies which are raising capital for expansion purposes. This is a sign of healthy business growth prospects and improving fundamentals. In conclusion, backing the underdog, or SMEs, is not a bad proposition, but not without its risks. Investing in SME IPOs is like riding a unicorn—but you don't know whether you're riding it to rags or riches! So, take your pick.

Why investing in SME IPOs should not be on top of your adventure to-do list!

New Delhi, Dec 20 () Leading stock exchange NSE on Friday said it has entered into a pact with the Gujarat government to work jointly for the promotion and development of MSMEs (Micro Small and Medium Enterprises) in the state.
The MoU will address multiple avenues for MSMEs in terms of fund raising and understanding of hedging foreign exchange fluctuations for MSMEs engaged in imports and exports business, the National Stock Exchange (NSE) said in a statement.
 Apart from this, a fund is also being created by the state government on the NSE platform to encourage investors to invest in the fast-growing SMEs in the state.
 As part of the pact, the NSE said it will support the efforts of the Gujarat government in enhancing the financing opportunities for MSMEs, through listing on NSE's SME exchange platform, EMERGE.
 Besides, the exchange would handhold MSMEs through the process of listing, thereby empowering them to achieve their next level of growth.
The government has decided to support MSMEs financially by bearing a part of the expenses related to listing.
 Listing helps companies get better access to capital for expansion and growth and provides visibility to local companies at the national level.
 Further, the government and the NSE will also work jointly to promote the online digital bills receivable discounting platform.
 "The joint initiative between Gujarat government and the NSE will bring growth and development for MSMEs in the state. The Gujarat government and NSE, together are working towards making this funding available for MSMEs in the state," Gujarat Chief Minister Vijay Rupani said.
 The exchange said similar intent and policies have been introduced by Uttar Pradesh, Rajasthan, Maharashtra, Punjab, Haryana, Uttarakhand and West Bengal.
 "Gujarat has strong and robust business ecosystem comprising industrial clusters of Jamnagar, Baroda, Morbi, Bhavnagar and Rajkot. The MoU...is to support the efforts of the Government of Gujarat to facilitate the SMEs in enhancing their financing opportunities and help them catapult to the next level of growth," NSE MD and CEO Vikram Limaye said.
 NSE SME platform EMERGE has 205 companies listed currently and together raised Rs 3,192 crore. Of these, 64 firms are from Gujarat that garnered over Rs 900 crore. SP ANU
ANU

NSE joins hands with Gujarat govt to promote MSMEs

New Delhi, Jan 29 () Leading stock exchanges BSE and NSE will shift several scrips to the restricted trading segment from Thursday to ensure safety of investors in the capital markets.
 BSE will shift as many as 30 stocks, including McDowell Holdings, Emami Realty, United Van Der Horst, Hindustan Everest Tools, Technofab Engineering and Lactose India, to the trade-for-trade segment represented by T or XT groups.
 At the same time, NSE would transfer 13 scrips to the trade-for-trade segment segment on its platform.
 In this segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
 With a view to take preventive surveillance measure to ensure market safety and safeguard the interest of the investors, BSE and NSE have decided to move shares of these companies to T or XT Group with effect from January 30.
 In separate notices, the exchanges have asked their members "to take adequate precaution" while trading in these stocks "as the settlement will be done on trade-to-trade basis and no netting off of positions will be allowed".
 Further, value at risk margin of 100 per cent will also be levied on these scrips
 The decision with respect to these securities is part of a surveillance review, the exchanges said.
 They said the transfer of security for trading and settlement on a trade-to-trade basis "is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company".
 These stocks would attract a circuit filter of up to 5 per cent which would be the maximum permissible limit within which the share price can move.
 In a separate statement, BSE said it has registered trading volume of 77,100 barrels with an open interest of 10,400 barrels, on the first day of Brent crude oil futures trading on Tuesday.
 The bourse began trading in futures contracts of Brent Crude Oil from January 27.
 The exchange will use Intercontinental Exchange's Brent Index as the final settlement price for its rupee-denominated Brent futures contract.
 "BSE is dedicated to deepen the Indian commodity markets by providing traders, investors and all market participants convenient and cost effective onshore hedging products.
 "We believe that this contract will be widely accepted by all stakeholders and emerge as a preferred risk mitigating tool of all stakeholders," BSE Chief Business Officer Sameer Patil said.
 Brent crude is highly co-related with the Indian crude oil basket and the BSE Brent crude contracts are designed to protect stakeholders from oil market uncertainties. AST SP ANS
ANS
ANS

BSE to shift 30 stocks to restricted trading group, NSE to move 13 scrips

<keyword id="19995882" type="General" weightage="100" keywordseo="Berkshire-Hathaway" source="keywords" meta.keywordsubtype="org" meta.entityname="Berkshire Hathaway" meta.hostid="261" meta.entityid="Berkshire Hathaway">Berkshire Hathaway</keyword> Inc., the conglomerate led by American Businessman <keyword id="19921921" type="General" weightage="20" keywordseo="Warren-Buffett" source="keywords">Warren Buffett</keyword>, has made history by becoming the first U.S. non-tech company to surpass the USD <keyword id="6852179" type="General" weightage="20" keywordseo="1-trillion" source="Orion">1 trillion</keyword> mark in <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword>. The <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> of Berkshire Hathaway surged by USD 3.96 on the New York Stock Exchange, closing at USD 464.59 per share on Wednesday. With this milestone, Berkshire Hathaway joins an exclusive group of six other companies, primarily from the <keyword id="19896148" type="General" weightage="20" keywordseo="technology-sector" source="keywords">technology sector</keyword>, that have crossed the USD 1 trillion threshold. This list includes Apple, Nvidia, Microsoft, Alphabet (the parent company of Google), Amazon, and Meta Platforms (the parent company of Facebook). The stocks of Berkshire Hathaway have seen significant growth this year, appreciating by more than 28 per cent on the New York Stock Exchange. Despite this achievement, the broader U.S. stock markets faced a downturn on Wednesday. Both the S&amp;P 500 and the Nasdaq indices declined, largely due to profit-taking by investors. This market pressure in the U.S. had a ripple effect across Asian markets, where major indices also faced selling pressure on Thursday morning. In Asia, Japan's Nikkei index fell by 0.45 per cent, while Hong Kong's Hang Seng index declined by 0.55 per cent. Taiwan's Taiwan Weighted Index emerged as the largest loser among the major Asian markets, dropping by 1.32 per cent. In the Indian markets on Wednesday, the Nifty 50 index at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. Rate cut hopes in the US and subsequent buying from foreign portfolio investors supported the market. The sectoral index of IT was trading with a lead of 1.96 per cent with stocks of major <keyword id="20062339" type="General" weightage="20" keywordseo="IT-companies" source="keywords">IT companies</keyword> such as LTIMindtree, Wipro, and Infosys are trading as the biggest gainers in the trade. <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> opened nearly flat on Wednesday with Nifty starting above 25,000 and BSE Sensex opening at 81,800. Over the past few trading sessions, the Nifty was in the tight range despite the positive global cues. "Finally it has broken through to fresh all-time highs. This opens up possibilities for a strong upmove now. Sector-wise, domestic cyclicals will lead the way while IT is coming back in favour of selective name," said Ajay Bagga, Market and Banking expert.

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

<ul><li>MSMEs hold immense potential in supporting India’s ambitious vision of a $40 trillion economy by 2047, says industry body Assocham.</li><li>Banks can fund <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> working capital requirements against <keyword id="4572080" type="General" weightage="20" keywordseo="GST-filings" source="Orion">GST filings</keyword>, suggests Assocham.</li><li>Another suggestion is to come up with a similar structure of REITs and InVITs, an investment trust that lends specifically to MSMEs via pooling.</li></ul>The micro, small and medium enterprises (MSME) sector has played a meaningful role in India’s growth. The sector holds immense potential in supporting India’s ambitious vision of a $40 trillion economy by 2047, says a report by industry body Assocham. However, the real struggle for small businesses lies in fundraising for future growth. The report highlighted challenges faced by MSMEs in terms of fundraising and recommended ways to solve the problem. “An April 2022 report by the Standing Committee on Finance estimated the credit gap in the MSME sector to the tune of ₹20-25 trillion. Therefore, funding via alternative sources apart from bank credit needs to be augmented for the MSME segment,” said the report. Given that nearly 60% of MSMEs raise funds through informal sources, formalization of the sector is necessary to facilitate growth, the industry body says. “To this end, banks could fund working capital requirements against GST filings, which are more reliable quantitatively, as compared to collateralized loans. This would not only enable MSMEs easy access to funds but also spur formalization through GST registrations,” Assocham said. Another suggestion is to come up with a similar structure of real estate investment trusts (REITs) and infrastructure investment trusts (InVITs). The industry body says that an investment trust that lends specifically to MSMEs via pooling – can be created. Disclosures a challenge with SME IPOs Apart from credit, small businesses also find it tough to raise equity. Raising funds by going public via <keyword id="5559702" type="General" weightage="20" keywordseo="SME-IPO" source="Orion">SME IPO</keyword> is also a challenge due to strict disclosure requirements. BSE SME Exchange was launched in 2012 while NSE launched SME Emerge platform and Nifty SME EMERGE Index in 2017 to encourage MSME companies to get public. “In November 2021, BSE also collaborated with the All-India MSME Association (AIMA) to encourage and promote the listing of MSMEs and start-ups through the SME platform. Although these steps helped overall resource mobilization in the initial years, evident from the gradual rise in number of MSMEs that have moved to the main board, we have not seen equity emerge as a source of MSME financing in a big way,” said the report. While tough disclosure remains a challenge, data shows that SME IPOs have witnessed good growth with hundreds of companies launching their issues with <a href="https://www.businessinsider.in/stock-market/news/small-is-the-new-big-sme-ipos-double-in-2022-while-mainboard-ipos-halve/articleshow/96618323.cms#:~:text=mainboard%20IPOs%20halve-,Small%20is%20the%20new%20big%3A%20SME%20IPOs%20double,2022%2C%20while%20mainboard%20IPOs%20halve&amp;text=In%202022%2C%20108%20SME%20IPOs,age%20technology%20IPOs%2C%20last%20year.">stellar performances</a>. In 2022, 108 SME IPOs were launched, as against 60 the year before. A net worth between ₹1 crore and ₹25 crore is one of the listing requirements for SME IPOs on BSE, as per BSE Stock Exchange. The minimum investment amount for an SME IPOs is quite large compared to regular IPOs – ₹1 lakh for SME IPOs versus nearly ₹15,000 for regular IPOs. The report also revealed that the Department for Promotion of Industry and Internal Trade (DPIIT) is in process of finalizing the new industrial policy, which amongst other things, encourages MSMEs to choose the corporate bond market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mutual-funds-raise-bets-on-mid-small-cap-stocks-amid-volatile-markets/articleshow/98516460.cms">Mutual funds raise bets on mid &amp; small-cap stocks amid volatile markets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-continue-to-be-bearish-on-oil-gas-power-stocks-in-february-offload-equities-worth-7821-crore-in-the-two-sectors/articleshow/98511897.cms">FPIs continue to be bearish on oil &amp; gas, power stocks in February, offload equities worth ₹7,821 crore in the two sectors</a>

REIT-like structures, loans against GST filings can help solve MSME fundraising problems: Assocham

<ul><li><keyword id="4465249" type="PERSON" weightage="20" keywordseo="digital-gold">Digital gold</keyword> is luring Indian consumers on the festival of Akshay Tritiya this year. </li><li>In March, digital payments arm of Google, Google Pay also launched gold investment options to its customers in India. </li><li>Ever since the launch, the digital gold market has seen strong growth, with an estimated over 80 million people who had digital accounts as of March 2019.</li></ul>Indians love and swear by gold as a trusted investment asset so much they even have festivals popular for buying gold. Akshay Tritiya, an annual spring festival in India, is one such fare. But this year, the festival has taken a digital twist. With the launch of ‘<a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Digital Gold’</a> in India, Indians considering buying gold on the occasion of <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword>, also have a number of digital options if they fancy. Given that, National Stock Exchange (NSE) is even conducting a <a href="https://www.financialexpress.com/money/digital-gold-vs-sovereign-gold-bond-vs-gold-etf-vs-jewellery-important-watch-outs-before-you-buy-gold-on-akshay-tritiya/1569187/">trade session</a> dedicated to gold exchange and trade on Tuesday, on account of Akshaya Tritiya to give Indians this “smart investment option.” In March, digital payments arm of Google, Google Pay also launched gold investment options to its customers in India. What is ‘Digital Gold?’ ‘Digital gold’ is basically buying and selling of gold via online platforms and mobile wallets. These sites are reportedly offering everything from gold coins, gold bars and even gold jewellery, but in the form of ‘digital gold.’ The digital method allows one to buy 99.9% 24 karat gold. One can buy gold in small quantities in rupees or grams digitally and that can be redeemed at a physical gold shop against jewellery or sold later. However, the price at which the digital gold is sold is valid for only for 6 minutes. Where to buy? Digital wallets including Google Pay, PhonePe, Mobikwik and PayTm, among others have all rolled out the ‘digital gold’ option on their platforms in partnership with MMTC-PAMP or SafeGold, under the Gold Accumulation Plan(GAP). SafeGold is a joint venture between Invent Capital, a private equity firm, and World Gold Council. Users can buy digital gold via online wallets and store in online accounts — which are linked to GAP. Why the digital mode? Digital gold is being touted as a “smart and economic investment option.” That’s because while the <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">prices of gold</a> may vary between 4%-5% on the retail price of gold from the actual price, the price variation on digital gold is said to vary between 1.5% to 2%. There’s also no storage cost for digital gold and can be kept for a maximum of five years period. After that, the user can either sell it or can be converted into gold jewellery. Ever since the launch, the digital gold market has seen strong growth, with an estimated over 80 million people who had digital accounts as of March 2019. But there are also concerns over the lack of <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">regulation</a> in the emerging sector. See also: <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay wants to offer Indians their favourite investment option – gold</a>

This Indian festival popular for gold shopping has gone digital this year to lure millennials

<ul><li>The Indian government is looking to update its <keyword id="2056063" type="PERSON" weightage="20" keywordseo="cybersecurity-framework">cybersecurity framework</keyword> amid growing reports of state-sponsored actors, especially those from China, targeting the country’s critical infrastructure.</li><li>Coordinating between different ministries and incentivising private players to participate are likely to be the key changes, according to experts.</li><li>Considering the sensitive nature of the data that will be monitored, there needs to be significant safeguards in place to protect against government overreach.</li></ul>India was among the first few countries to launch a <keyword id="6361948" type="UNKNOWN" weightage="20" keywordseo="cybersecurity">cybersecurity</keyword> policy back in 2013 and now it is looking to revamp that framework. According to <a href="https://www.bloombergquint.com/global-economics/china-hacking-concern-revives-india-focus-on-cybersecurity-plan">Bloomberg</a>, the new rules will be approved by the cabinet committee on security headed by Prime Minister Narendra Modi. "Considering the fluid nature of cyberattacks, the law should enable collaborative efforts amongst states and union territories of the country and also at a cross-jurisdiction level," explained Supratim Chakraborty, a partner at Khaitan &amp; Co. More importantly, experts are hoping that this time the regulations will have a little more bite in order to be effective against <keyword id="119065" type="PERSON" weightage="20" keywordseo="cyber-threat">cyber threat</keyword>s. “India's cyber threat canvas has evolved and now includes persistent and penetrating attacks targeting India's national and commercial computer networks,” Sameer Patil, a defence expert with Mumbai-based think tank Gateway House told Business Insider. The move to set up a new system comes amid increasing reports of hackers from other countries targeting users in India and the country’s critical infrastructure. According to cybersecurity firm <a href="https://www.businessinsider.in/tech/news/chinese-cybercriminals-are-targeting-the-indian-power-sector-according-to-a-report/articleshow/81274093.cms">Recorded Future</a>, a new group called the RedEcho has its cyber guns trained on India’s power grid. "If any of the critical institution, goes down, it would severely impair our ability to function normally. If the banking operations take a hit, the end use is invariably affected. If any of the confidential data of any Ministry is leaked, it would also lead to compromise in the security and sovereignty of our nation," said Neeraj Dubey, a partner at law firm Singh &amp; Associates. Red Echo may be linked to the <a href="https://www.businessinsider.in/tech/news/mumbais-massive-power-cut-last-month-may-have-been-the-work-of-hackers/articleshow/79318282.cms">massive power outage in Mumbai</a> that crippled banks and the <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms">glitch at the National Stock Exchange</a> (NSE), which the authorities are still investigating. India needs a cybersecurity policy with more bite Pankit Desai, chief executive and co-founder of Sequretek, a Mumbai-based cybersecurity firm, feels that India’s critical infrastructure has already opened India to a Trojan horse situation. He thinks that the only way for any new policy to be effective is to have more bite than bark. “We don’t need frameworks, there are enough of them that already exist. What we need is an institution with teeth that will force these entities to step up their security investments much like what RBI [Reserve Bank of India] did for banks,” he told Business Insider. It has been eight years since India’s cybersecurity framework was first unveiled, but not much has been done in terms of creating a coordinated approach to address cyber threats — especially when it comes to the country’s critical infrastructure. “The response to a cyber threat should be at least as coordinated as the emergency response to the floods in Uttarakhand last month,” Avimukt Dar, founding member and senior partner at IndusLaw, told Business Insider. The private sector has a key role to play The question isn’t only about coordination between public stakeholders, but private ones too. According to Dar, companies and businesses will only report any kind of cyber incidents if they get something in return. “Until and unless companies are being held to ransom, the details don’t come out — we saw this last year,” he said. Not sharing data can leave behind a gaping hole of information. According to Singapore-based cybersecurity firm Cyfirma, cyber intelligence sharing is critical for players within a specific industry or a group of companies in order to fight cybercrime, effectively. “This can create a common repository of known threats, malware, attack vectors and methods, giving organisations additional ammunition to mount more effective defence strategies. And this can only be done if reporting of data breaches is made mandatory,” Kumar Ritesh, the founder and CEO of Cyfirma told Business Insider. In order to incentivise private players to report cyber threats in a quick and prompt way, the government needs to beef up its ability to protect Indian data from attacks and show Indian businesses that it's doing something meaningful and credible to allow their business continuity. What will the new framework mean for ordinary folks? The new rules are an indication that the regulatory powers under Ravi Shankar Prasad’s Ministry of Electronics and Information Technology (MeitY) are increasing. “MeitY was historically a ministry intended to promote IT and electronics. Of late, it has a larger regulatory role which we saw in the IT Rules that came out in February. The IT Act is getting fully operationalised,” said Dar. What is worrying is that India is currently <a href="https://internetshutdowns.in/">leading the world</a> in the number of days the internet has been shut down in one part of the country or another increasing the deficit of trust that the public has with the government. Moreover, the recently passed IT Rules for social media, over-the-top (OTT) platforms and digital news have raised concerns about breaking encryption and the level of overreach that the government may have at its disposal. “What we need to have in this policy are significant safeguards, which do not allow for people’s privacy to be compromised.You always have to assume there can be bad faith apples within the government too,” said Dar. There have already been multiple cases of US government employees <a href="https://www.businessinsider.in/Egregious-Cases-Of-US-Government-Employees-Abusing-Databases-To-Spy-On-Americans/articleshow/21031032.cms">abusing databases</a> to spy on ordinary citizens. In order to allay concerns, Dar recommends that there should be sufficient punishment in place to address the issue. "It should not be an administrative punishment, it should be a stiff criminal punishment for doing something wrong — like a jail sentence," he said. Others have a more positive stance on the problem and believe that there will, inevitably, be some degree of trade off between the privacy of users and the security concerns of the state. "Both are equally legitimate concerns – but are entirely premised on what the government wants to take in relation to their framework... At present, it appears that India is greatly focussing on protecting its critical infrastructures pertaining to health, education, end-user station, nuclear sector, etc. Therefore, end-users are likely to be affected to some extent, however, that may be for the greater good.," opined Chakraborty. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/kerala-high-court-issues-notice-to-central-government-over-the-chilling-effects-of-indias-new-it-rules-for-digital-news/articleshow/81432730.cms">Kerala High Court issues notice to central government over the ‘chilling effects’ of India’s new IT Rules for digital news</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-signal-and-telegram-face-a-catch-22-situation-as-indias-new-social-media-rules-threaten-encryption/articleshow/81221070.cms">WhatsApp, Signal and Telegram face a catch-22 situation as India’s new social media rules threaten encryption</a> <a href="https://www.businessinsider.in/tech/news/facebook-and-twitter-have-a-ton-of-new-rules-to-abide-by-in-india-whatsapp-may-find-itself-in-the-toughest-spot-of-all/articleshow/81208643.cms">Facebook and Twitter have a ton of new rules to abide by in India ⁠— WhatsApp may find itself in the toughest spot of all</a>

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SIMPLY PUT: Why investing in SME IPOs should not be on top of your adventure to-do list!

Ira Alok Puranik

Why investing in SME IPOs should not be on top of your adventure to-do list!

BI India Bureau

NSE joins hands with Gujarat govt to promote MSMEs

PTI

BSE to shift 30 stocks to restricted trading group, NSE to move 13 scrips

PTI

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

ANI

REIT-like structures, loans against GST filings can help solve MSME fundraising problems: Assocham

Bhakti Makwana

This Indian festival popular for gold shopping has gone digital this year to lure millennials

Prerna Sindwani

It has taken over 7 years for India to revamp its cybersecurity policy — experts say there's room for carrots and sticks but not surveillance

Prabhjote Gill

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