Merchant banker SKI Capital on Monday said it has collaborated with communication firm PROSE Integrated to tap over Rs 2,500 crore Indian Small and Medium Enterprises (SME) IPO market.
The main aim of this alliance is to make entrepreneurs and promoters of SMEs as well as potential investors aware of this opportunity, the two firms said in a joint statement.
Earlier this year, SKI Capital achieved registration from the Sebi for its alternative investment fund (AIF) focused on the SME initial public offerings (IPOs).
With a target corpus of Rs 600 crore, the AIF is specifically focused on providing SMEs with vital capital and strategic support. SKI Capital's AIF also closed its first and initial investment in an SME IPO and filed DRHP (drat red herring prospectus) for two SME IPOs as the lead manager.
PROSE Integrated will provide deep domain expertise to identify potential SMEs and promote SME IPOs by increasing awareness amongst investors across India.
SME IPOs have seen a record run in 2023. So far this year, 91 companies have raised close to Rs 2,327 crore through their maiden offerings on the SME platforms of the BSE and the National Stock Exchange (NSE).
In calendar year 2022, as many as 109 SME IPOs raised a total of Rs 1,874 crore in comparison to the collection of Rs 746 crore by 59 IPOs in 2021.