SME News

Small businesses in the country have reported heavy losses in their trade activities as the Korean won weakened sharply amid deepening political crisis and growth woes, once going below the 1,470 won per dollar level during intraday trading last month, the lowest mark in nearly 16 years.

The advisory, issued by Indian embassy in Beijing, states that these precautions are needed as the Embassy has regularly come across several problems faced by Indian companies doing business with Chinese entities in China.

SBI SME Digital Business Loans: For loans up to Rs 50 lakhs, SBI has waived the requirement for financial statements, relying instead on transaction history and GST returns for appraisal.

The company allegedly misutilised its initial public offer (IPO) proceeds and used dubious transactions to paint a false picture of good financial health and promising growth prospects to the general public.

Among top three security threats globally, network attacks topped the list, followed by software vulnerability exploits and ransomware. 

For the year ending January 2024, Realty (108%) and PSU Bank (57%) made the highest gains while Bank (13%) was the lowest performer, the report said.

By Afternoon, the IPO has been subscribed over 1.65 times with a subscription of 2.6 times by retail investors. Out of the 58,94,000 shares allotted for retail investors, a total of 1,06,12,050 shares have been bid for.

The meeting, to be chaired by Financial Services Secretary Vivek Joshi, would also see participation from top private sector lenders HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank.

Union Minister for Micro, Small and Medium Enterprises Shri Narayan Rane has said that ZED has the potential to become a national movement and that it aims to provide a roadmap to global competitiveness for the MSMEs of India.

Building a great software application is undoubtedly the main objective for any SaaS company. Backed by in-house experts and professionals, Shopaccino envisions to be a key player in driving businesses by making them SEO friendly to ultimately help them in transforming their brand towards growth and development.

CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.

The portal is a real one-stop-shop solution of MSME Ministry.

Looking to tap into the upbeat investor sentiment, as many as 36 small and medium enterprises have lined up initial public offers (IPOs) to fund business expansion and meet working capital requirements.

Terming the recent Parliament session as 'virtually wasted', Finance Minister Arun Jaitley today said policymakers and "obstructionist" politicians must gauge the public mood before taking a position on reforms.

Delhi-based Funny Software Ltd, which is into offering IT services, consulting and business solutions, has entered the capital market with a public issue of 32,80,000 equity shares of Rs 10 each at a fixed price of Rs 14 each aggregating Rs 4.59 crore.

Through the programme, SMEcorner will get access to several resources, including mentors, user-testing benefits, developer community programmes, workshops and forums, cloud storage and the like, he said.

As many as 30 small and medium enterprises (SMEs) got listed on the stock market, raising Rs 236 crore, in the first 10 months of the current financial year.

Capital Float, a digital SME finance firm, today said it has raised USD 13 million (about Rs 80 crore) from a group of investors led by SAIF Partners and Sequoia Capital, along with participation from its existing investor Aspada.

An analysis of all IPOs that have hit the market so far this year shows that most of these public offers were on the Small and Medium Enterprise (SME) platforms of BSE and NSE.

Bajaj Finance Wednesday reported 20 percent jump in the June quarter net profit at Rs 211 crore on the back of jump in deployments to consumers and small businesses.