Bid Adieu to Ajay Thakur: Anchor of BSE-SME and Game Changer of Indian SME IPOs

Today, we bid adieu to Mr. Ajay Thakur, a distinguished professional whose remarkable 30-year career in the capital market spans roles at India's largest custodian and stock exchange- BSE. His invaluable contributions have left an indelible mark on the industry, particularly through his pioneering efforts in setting up the country's first SME and Startup Platforms, developing BSE's derivatives and equity markets, and establishing its arbitration and conciliation framework.

Mr. Thakur's career began in 1994 when he joined Stock Holding Corporation of India as an Executive. A year later, he moved to Vadodara Stock Exchange as a Management Executive, overseeing market operations and the Clearing House. In 1996, he joined BSE, where he headed various departments including Arbitration, Membership Services, Business Development, and the SME & Startup Platform. His leadership was crucial in framing new bylaws for arbitration, resolving cases promptly, establishing regional centers, and advancing BSE's cash and derivative segments.

BSE SME Platform

In 2010, Mr. Thakur was entrusted with the responsibility of launching the SME & Startup Platforms. Under his leadership, these platforms have achieved phenomenal success. The SME Platform, launched on 13th March 2012, and the Startup Platform, launched on 22nd December 2018, have collectively transformed the landscape for small and medium enterprises in India. Today, BSE's SME Platform stands as the largest and most successful in the country, with 503 listed companies, 125 in the pipeline, raising Rs 6,626 crores, and a market capitalization of approximately Rs 1,52,000 crores. These companies span 17 sectors and come from 19 states. The Startup Platform boasts 14 listed startups that have raised Rs 61 crores, with a market capitalization of Rs 899.55 crores.

Mr. Thakur's tireless efforts in raising awareness about equity funding benefits have included conducting 2,500 physical seminars and 500 webinars nationwide. He has personally engaged with around 35,000 SMEs and 250 startups, driving the growth of these vital sectors.

The success of BSE's SME Platform has garnered both national and international recognition. The Asian Development Bank praised BSE's efforts in its 2013 annual issue, and IOSCO's July 2015 research report highlighted BSE's SME platform as the most cost-effective globally. The platform has also received the SKOCH Achiever Award and the Best SME Exchange Award in 2015 and 2016, respectively. In 2018, the S.P. Jain Institute of Management & Research honored BSE as a CHANGE AGENT, a testament to Mr. Thakur's transformative impact. In 2023, Mr Thakur attended SMEStreet - DealPlexus MSME Influencers Forum and Ek Nayi Udaan Event as the Guest of Honor.

In all these 10 years of SMEStreet's existence, Mr Thakur has always supported and motivated us to produce value for the Indian SME sector. As Mr. Ajay Thakur embarks on a new chapter, we at SMEStreet extend our deepest gratitude for his remarkable contributions to BSE and the broader capital market. His legacy of dedication, innovation, and excellence will continue to inspire us. We wish him all the best in his future endeavours, confident that his path will be filled with continued success and fulfilment.