Primary market not vibrant: Sebi official

Despite a vibrant secondary market,the primary market in the country is still dormant with very few issues coming, an official of the capital market regulator Sebi said today. "The secondary market is vibrant with the Sensex touching the 27,000-mark in a span of seven months. But the primary market is muted so far with not so many public issues on the floor," Securities and Exchange Board of India (Sebi) Chief General Manager P K Bindlish said at a seminar on capital markets.

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He said Sebi had floated a platform where companies could get listed with taking recourse to the IPO route with the view to help small and medium sized companies. Sebi's aim is also to pursue companies come out with proper disclosures and practice good corporate governance. Ravi Varanasi, head of NSE's business development, who was also present at the event later told reporters that the stock exchange was also trying to bring more small and medium companies to SME trading platform.

He said that so far, there were only five companies which were listed on NSE's 'SME Emerge' platform. "We aim at adding 20 more such companies during the current financial year," he said. With market share of 85 per cent in the cash segment, NSE was also in the process of launching several products for investors which were awaiting approval of SEBI, he said.