Varanasi (Uttar Pradesh) [India], October 9 (ANI): The National Stock Exchange of India (NSE) is stepping up efforts to help small and medium-sized businesses in Uttar Pradesh access stock market funding, as 764 companies across India have listed on its NSE Emerge platform, collectively raising over Rs 24,520 crore.

As part of this initiative, NSE, in collaboration with the Uttar Pradesh government and Kotak Mahindra Bank, conducted an interactive workshop titled 'Idea to IPO' in Varanasi on October 8 to educate entrepreneurs about raising capital through public listings.

According to NSE, the 764 companies listed on its Emerge platform have a combined market capitalisation of approximately Rs 2.78 lakh crore.

The initiative comes as NSE seeks to expand access to capital markets for smaller businesses, enabling them to raise funds for expansion and improve their visibility through stock exchange listings.

Sriram Krishnan, Chief Business Development Officer at NSE, said the exchange has witnessed growing participation from Uttar Pradesh and plans to continue such programmes.

'NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through listing on the stock exchange. We have seen rapid progress in the number of listings from UP. To continue this momentum, we shall organize such awareness sessions regularly in collaboration with the Government,' he said.

The workshop brought together entrepreneurs, business owners, finance professionals and capital market participants from Varanasi.

Pranjal Yadav, Secretary, Department of MSME and Export Promotion, Uttar Pradesh government, said the initiative would help local businesses understand the opportunities available through public markets.

'This informative seminar is expected to give a strong boost to Varanasi's economic development and is a step towards making it a model city for industrial growth. Such initiatives underscore our commitment to help SMEs of Uttar Pradesh scale faster and compete not only nationally but at a global scale,' Yadav said.

Rohit Anand, Managing Director of the UP Small Industries Corporation, highlighted how stock market funding could help local businesses expand their reach.

'Many businesses in Varanasi and UP are leaders in their local markets. Through this seminar, participants could learn how capital markets help such companies become national brands,' he said.

The programme follows NSE's earlier investor awareness initiative in Varanasi on July 24, when the exchange, under the aegis of the Securities and Exchange Board of India (SEBI), conducted a financial literacy seminar attended by more than 300 municipal officials.

While the earlier programme focused on responsible investing, investor protection and preventing financial and cyber fraud, the latest initiative is aimed at helping smaller businesses understand stock market listings and funding opportunities. (ANI)