New companies set up in the past four years in Uttar Pradesh, would be prioritised in listing on the Bombay Stock Exchange and the National Stock Exchange (NSE).

According to additional chief secretary (ACS) MSME, Navneet Sehgal this was decided in a meeting with NSE senior manager Rakesh Kumar on Thursday (12 August).

Sehgal said that virtual meetings would be organised between the two exchanges and industry bodies like FICCI and Laghu Udyog Bharti so that they could encourage their members to get listed on the stock exchange.

During their discussion, Sehgal and Kumar spoke about the possibilities of getting new companies in the state listed on the two stock exchanges.

Sehgal informed Kumar that there are about 55 lakh DEMAT accounts in Uttar Pradesh, making it the third highest in the country.

Currently, there are eight companies from Uttar Pradesh listed on NSE and nine on BSE.

"This is despite the fact that UP has a high number of electronics, IT, logistics, manufacturing, plastic, leather, agro, food products and garments companies, among others," Sehgal said, adding that by getting listed on the stock exchange, the market capital of these companies would go up.

This would improve businesses and increase employment opportunities.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)