Saffron India Limited becomes 381st company to be listed on BSE SME platform

According to a BSE statement, Saffron India Limited became the 381st company to be listed on the BSE SME platform on July 12, 2022.

Saffron India Limited brought out an initial public offering of 930,400 equity shares (“Equity Shares”) at a price of Rs 10 each. 170 per Equity Share (“Offer Price”), aggregating to Rs. 15.82 crores. The company has successfully completed its public offering on July 04, 2022.

Mumbai-based FedEx Securities Pvt Ltd and HEM Securities Ltd were the lead managers of Saffron India Ltd.

Saffron India Limited

-Saffron India Limited is a Maharashtra based company whose registered office is in Nagpur.

-The company is engaged in the business of development and construction of residential and commercial projects, industrial buildings, factory buildings, workshop buildings etc.

So far 147 companies have been transferred to the Main Board. The 380 companies listed on the BSE SME platform have raised Rs 4,047.69 crore from the market and the total market capitalization of the 380 companies as of July 11, 2022 is Rs. 51,200.20 crore. BSE is the market leader in this sector with 61 per cent market share.

SEBI issued detailed guidelines on 18 May 2010 for launch of SME Exchanges/Platforms.

BSE became the first stock exchange to receive approval from SEBI and launch its SME platform on 13 March 2012.