Access to capital has long been a significant challenge for Micro, Small, and Medium Enterprises (MSMEs) in their quest for growth. Typically relying on conventional sources such as banks, financial institutions, and support from friends and relatives, MSMEs often find themselves facing limitations in raising adequate capital. Recognizing this hurdle, the Government of Odisha has introduced an initiative to encourage MSMEs to explore alternative avenues for capital infusion, particularly by getting listed on stock exchanges.
The initiative aligns with the Odisha MSME Development Policy-2022, specifically at 7.11—Assistance for raising capital through SME Exchange. In an effort to bolster the financial strength of MSMEs and facilitate their access to capital, the government is pleased to announce a one-time grant/financial assistance program.
Under this program, MSMEs in Odisha that successfully list on the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE) can avail themselves of financial incentives. Eligible businesses will receive financial assistance equivalent to 2% of the total capital raised from NSE/BSE listing or 20% of the expenditure incurred in raising capital from these stock exchanges, subject to a maximum limit of Rs. 10 lakh.
To access this support, MSMEs must make a written application to the MSME Department, providing comprehensive details and documentary evidence related to their NSE/BSE listing and the capital raised through the listing process. The application format can be found in Annexure-A.
Upon verification and confirmation of the authenticity of the claim, the financial incentive amount will be directly credited to the respective MSME’s bank account by the MSME Department. This streamlined process ensures that the financial support reaches deserving MSMEs within 30 days from the date of application submission.
