Subsidy for Fund Raising from SME Exchange

Subsidy for Fund Raising from SME Exchange (SME एक्सचेंज से धन जुटाने के लिए सब्सिडी)

The "Subsidy for Fund Raising from SME Exchange" initiative, launched by the Micro Small and Medium Enterprises Department of the Government of Tamil Nadu, aims to assist high-growth potential Small and Medium Enterprises (SMEs) in the state. This scheme enables these businesses to raise equity capital through Initial Public Offerings (IPOs) on the SME Exchange, enhancing their financial capabilities for both manufacturing and service sectors.

Overview of the Scheme

The primary goal of the "Subsidy for Fund Raising from SME Exchange" scheme is to support SMEs with significant growth potential in Tamil Nadu. By facilitating their access to equity capital via the SME Exchange, the government aims to empower these enterprises to expand and thrive. The scheme offers financial assistance for the expenses incurred during the process of listing on the SME stock exchange.

Key Benefits

• Financial support of up to ₹ 30,00,000.
• The assistance is limited to 50% of the total expenses incurred related to the SME IPO.

Eligibility Requirements

• All newly established Micro and Small Enterprises located in the designated 254 industrially backward blocks are eligible.
• The applicant must meet the listing qualifications as per the guidelines set by the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE).
• Eligible expenses for reimbursement include fees related to Merchant Bankers, Due Diligence, Registrars and Transfer Agents, Peer Review Auditors, Exchange fees, and Listing Charges.

To determine your eligibility for this scheme, click here.

Application Process

Step 1: Registration

• Visit the official website of the Micro, Small, and Medium Enterprises Department of Tamil Nadu.
• Click on "Login / Registration" in the top ribbon.
• Fill in the mandatory fields in the registration form, including your Name, Date of Birth, Aadhaar Number, Email ID, and Mobile Number.
• Create a password with at least 8 characters, including 1 uppercase letter, 1 lowercase letter, and 1 numeric character.
• Complete the captcha code and click "Register".

Step 2: Login

• Go to the Login Page and click "Login".
• Enter the credentials sent to your registered Email ID and Mobile Number.

Step 3: Form Filling

• Once logged in, navigate to "Schemes" in the top ribbon and select the relevant scheme from the dropdown menu.
• Click on "Apply Online" and then select "New Application".
• Complete all mandatory fields in the Application Form.
• Review all provided information, agree to the terms and conditions, and click "Proceed".
• Note the reference number displayed on the screen and click "Close".

Step 4: Document Upload

• Go back to "Schemes" and select "Upload Documents" from the dropdown.
• Enter your Application ID and click "Submit".
• Upload the required documents in the specified formats and sizes.
• After uploading, click "View" to verify the correctness of the documents.

Step 5: Application Submission

• Check all the boxes at the bottom of the screen and click "Submit Application".
• You will receive a confirmation message regarding the submission of your application to the GM/DIC/RJD on your mobile phone.

(Optional) Step 6: Track Application Status

You can monitor the status of your application by visiting here. The portal may provide updates via email or SMS regarding the status of your application.

Application Time Limit

Applications must be submitted within 6 months from the date of listing on the SME Exchange.

Official Source

For more information, please visit myScheme.gov.in.