Eastern Logica Infoway Limited becomes the 413th company to get listed on BSE SME Platform.
BSE SME has been constantly enabling SMEs across India to raise equity capital for their growth and expansion. West Bengal-based Eastern Logica Infoway Limited is the latest addition, taking the tally of listed companies on the bourse to 413.
Eastern Logica Limited came out with an initial public offering of 7,53,000 equity shares of Rs.10 each (“Equity Shares”) for cash at a price of Rs. 225 per equity share (The “Offer Price”), aggregating to Rs.16.94 crore. The company successfully completed its public issue on January 9th, 2023 with Oneview Corporate Advisors Private Limited being the lead manager.
Incorporated in 1995 with a registered office in Kolkata, Eastern Logica Limited deals in multi-brand retail and retail selling as well as the distribution of branded smartphones, IT hardware, software and allied accessories and services. The company also provides networking and security solutions to consumers.
The 412 companies listed on the BSE SME Platform have raised Rs. 4,563.05 cr from the market. The total market capitalization of these listed companies as on January 16th, 2023 is Rs. 66,222 cr, making BSE the market leader in the SME segment with a market share of 60 per cent. So far, 160 companies have migrated to the main board.
SEBI had come out with detailed guidelines for the launching of SME Exchange/Platform on 18th May 2010. BSE became the first stock exchange to get approval from SEBI and to launch its SME platform on 13th March 2012. The response since the launch of this platform by BSE has been very positive to date.