NEW DELHI: Over 60 small and medium businesses (SMEs) are likely to tap into the market in 1 year to increase equity funds to encouraging their business conditions, a BSE leading official said on Wednesday. All these businesses get recorded on the market’s SME platform, Ajay Thakur, mind of BSE SME and Startup told PTI. This past year, just 16 SMEs had exploited the first public offering (IPO) course and increased Rs 100 crore. To promote the equity culture one of SMEs, Thakur said that the market is taking proactive steps to arrange webinars, socialize with country authorities and other professional institutions. Through the term, the market has organised about 150 webinars to make awareness among SMEs about the benefit of equity financing and listing,” he explained. In accordance with Thakur, absence of consciousness about record has resulted in lots of pre-conceived ideas that record entails increased funding levels and increased prices. He opined that list may help SMEs to improve their visibility in addition to brand construction; boost their credit score, provide simple finances and development opportunities. “BSE SME became the very first SME stage at which 400 prospectuses are registered by SMEs. Of those, 337 have listed and also the remaining 63 will soon be recorded in one-year time due to the continuing pandemic,” Thakur said. This past year, also, on account of the many steps taken by people, we found just one company got recorded each month on the stage, ” he added. Money raised through the problem is going to be used for company growth strategies, capital expenditures or working capital requirements and other general business purposes. These businesses rely to a broad assortment of industries, such as IT, automotive parts, pharma, hospitality and infrastructure. Through time, BSE SME system has emerged as the very cost-effective platform for small and medium businesses to market funds and make visibility, Thakur said. BSE had established SME stage at March 2012 to offer opportunity to these companies to raise funds for expansion and growth. Since that time a total of 337 firms got recorded on its SME section and increased Rs 3,500 crore. All these businesses have a collective market capitalisation of more than 26,300 crore. Of those 337 companies, 99 have migrated to the major board stage. Anyway, approximately 10-12 businesses are based on BSE startups platform, that premiered in December 2018, to ease financing for its deserving startups by allowing them to increase funds from the industry.