Stock exchange for unlisted startups GREX launched in Hyderabad
Hyderabad: The Indus Entrepreneurs (TiE) in association with incubation centre The Entrepreneur Zone (TEZ) on Monday launched the country's first stock exchange for unlisted startups GREX.
GREX, touted as the country's first stock exchange for unlisted startups, is scheduled to go live in July 2015.
It aims to create an alternative funding option for startups and more exit options for investors who back risky ventures. GREX will also encourage the public to participate and contribute to the growth of startups.
"GREX is designed to be an integrated platform not only for capital needs but also for naturally providing visibility and access to companies. There is substantial latent appetite for these high growth companies as investment opportunity among private investors," said Manish Kumar, chief executive officer of GREX.
"For this market to be vibrant, it needs information sharing, transparency and ease of doing transactions. We therefore worked with various capital market infrastructure players to develop a system that integrates the entire capital market ecosystem into one platform," he added.
Safir Adeni, president of TiE's Hyderabad chapter and managing director, Ineda Venture Group, TiE said platforms such as GREX will further enhance the startup ecosystem in the country.
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