11.8 C
New York
Thursday, December 3, 2020
Home Stories Startup lobby group Indiatech wants local startups to get listed on Govt...

Startup lobby group Indiatech wants local startups to get listed on Govt e-marketplace

Startup lobby group Indiatech.org is in discussion with the government and regulators to allow local startups to list their services on Government e-marketplace or GeM.

The government-owned portal that is aiming to reach $25 billion GMV by 2021, facilitates online procurement of common use goods & services required by various government departments, organisations, and PSUs.

According to the lobby group’s newly appointed CEO Rameesh Kailasam, the listing of home-grown startups on GeM will make the process of a stock market listing easier and central and state departments can also make procurements from them.

Besides accessing new market opportunity, startups can leverage the platform and give a price advantage to the government department. Cab, hotel, and flight booking platforms have a better opportunity to serve GeM that may surpass e-commerce giants Flipkart and Amazon in terms of transactions within three years.

Further, Indiatech is planning to submit a recommendation paper to SEBI on easing the process of stock market listing within two weeks. The lobby gorup will pitch for relaxing the requirement of a minimum 20 per cent promoter holding for those doing an initial public offer (IPO).

Separately, the stock market regulator is also planning to relax rules for listing of startups in India. This can provide a flexibility to promoters to categorise themselves as ordinary shareholders and exempting them from the mandatory three-year lock-in period.

Startups in the field of e-commerce, data analytics, and biotechnology are likely to get exemptions to raise funds and get their shares traded on stock exchanges. SEBI is also considering to rename ‘Institutional Trading Platform’ that was created for such listings as ‘Innovators Growth Platform’.

Earlier Indiatech had supported (SEBI)-appointed committee that proposed to allow companies to sell shares with differential voting rights.

Source: Entrackr

To Read Our Daily News Updates, Please visit Inventiva or Subscribe Our Newsletter & Push.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Oyo – plans to launch its own IPO, a look into Oyo’s past, present and what the future looks like?

Oyo Hotels & Homes started with a unique business model of budgeted hotels. An Indian hospitality chain that works on the model of leased...

A look at the benefits and challenges of legalised online gambling

Gambling is often a touchy subject when it comes to laws around the world. Some countries have fully embraced the industry with laws that...

Bri Innovations Launches Two “Sensibly Innovative” Products

Recently, we have seen a surge in new products that would never have been thought, if the covid had not affected India. It’s an...

Vaccine Update: The UK Turns Out To Be The First Nation To Affirm Pfizer’s COVID -19 Antibody, First Shots Turn Out One Week From...

The United Kingdom has become the main Western country to favor a Covid-19 antibody, a milestone second in the COVID pandemic that makes ready...

Recent Comments

%d bloggers like this: