Guiness Corporate Advisors, Leading Merchant Banker of SME IPO Platform
Lauds measures to boost MSMEs in the Union Budget, 2018
New Delhi – 12 February, 2018:
Mr Kamal Kothari, Promoter of Guiness Corporate Advisors Pvt. Ltd, a leading merchant banker of SME IPO platform lauded the recent measures announced by the Finance Minister in his budget speech which will give tremendous boost to MSMEs. Proposal to cut Corporate Tax Rate to 25% for companies having turnover upto Rs 250 Crores and allocation of 3,794 Crores for MSME sector towards credit support, capital and interest subsidy as well as to spur innovation – these twin measures will benefit the entire class of MSMEs. Soon to announce measures to address non-performing assets and stressed accounts of MSMEs would further enable larger financing of MSMEs and also considerably ease cash flow challenges faced by them.
Additionally, proposal to set a target of ₹3 lakh crore for lending under MUDRA (Micro Units Development and Refinance Agency) for 2018-19, online loan sanctioning facility for MSMEs for prompt decision-making by banks, bringing on-board PSU banks and corporates on Trade Electronic Receivable Discounting System (TReDS) platform and link it to Goods and Services Tax Network (GSTN) – all these measures will significantly ease the doing of business.
The scheme to provide a unique identity to every enterprise on the lines of Aadhaar will also provide benefits to the sector.
Commenting on the budget, Mr. Kamal Kothar said, all above measures will be beneficial for the SMEs as besides growth in earnings, this should generate interest among investors to invest in companies listed on SME Platform..
We are going to be the biggest beneficiary of these measures, as we work very closely with SMEs to get them listed on both the exchanges. This will definitely increase the number of SMEs going to be listed on the exchanges.”
About Guiness Corporate Advisory Services:
Guiness Corporate Advisors Pvt. Ltd. , a SEBI registered Category I Merchant Banker, has emerged as one of leading players in IPO services, which spans from handholding the SME at the pre-listing stage to the listing on the platform to guiding these SMEs post listing to acting as the Underwriter. Of the 336 listed SMEs, Guiness Corporate Advisors have been the Merchant Banker to more than 40 SMEs, besides being the Merchant Banker to the biggest IPO on the SME platform of approximately Rs.85 Crores which is going to open shortly.