RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD

RAMP, or Raising and Accelerating MSME Performance, is a Government of India programme supported by the World Bank. Its purpose is to make Indian MSMEs more productive, more competitive and more resilient, using a mix of structural reforms, capacity-building support, and better access to both finance and markets. Intervention 3 of the programme narrows the focus to a single problem: helping small and medium enterprises raise equity capital through an SME Exchange.

In the Union Territory of Dadra and Nagar Haveli and Daman and Diu, this intervention is implemented by the Department of Industries, UT Administration. The aim is to nudge SMEs towards the SME Exchange route, floated under SEBI guidelines, as a practical alternative to depending only on debt. To make that route affordable, the UT Administration extends a one-time subsidy of up to ₹15,00,000 against the eligible expenses a company racks up while listing.

The support is designed to absorb a meaningful share of the cost of going public — listing fees, statutory and regulatory charges, and the professional fees payable to the specialists who run an IPO. Through this intervention, the scheme targets support for a minimum of 6 SMEs, giving them a foothold in public markets. Applications are accepted on a rolling basis, so there is no fixed window to wait for.

• One-time subsidy of up to ₹15,00,000, or actual capital-raising cost if lower
• Covers listing fees, SEBI/ROC fees, stamp duty and professional fees
• Applicant must already be listed on NSE Emerge or BSE SME
• Open to manufacturing and service enterprises across all industries
• A minimum of 6 SMEs are targeted under this intervention
• Rolling applications, processed first-come, first-served within 90 days

An applicant has to satisfy every condition below; missing any one of them makes the unit ineligible.

• Udyam registration is compulsory, and the enterprise must operate in the UT of Dadra and Nagar Haveli and Daman and Diu.
• The applicant must be a Private Limited or Public Limited company and must hold a Corporate Identification Number (CIN).
• The company must already be listed on NSE Emerge or BSE SME, and must hold an SME exchange listing approval letter.
• Enterprises in manufacturing and service sectors, across all industries, are eligible.
• Both new and existing enterprises may apply.
• The enterprise's SME status is determined as on the date it was listed on the SME Exchange.
• The application must be filed after the listing date, and within the period during which the scheme guidelines remain operative.

RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD is open to startups at any stage. It is open to startups registered anywhere in India.

RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD accepts applications on a rolling basis — there is no fixed cut-off date, so eligible startups can apply at any time. Because rolling programmes can pause without notice, confirm the window is still open on the official site before you start.

The intervention releases a one-time amount of up to ₹15,00,000, or the actual cost the enterprise incurred to raise capital, whichever is lower. Disbursement happens after the SME has successfully raised equity through an SME Exchange.

Expenses that fall within the eligible heads include:

• Exchange charges — the listing fee paid initially as well as the annual listing fee.
• Statutory and regulatory payments, such as SEBI filing fees, ROC filing fees and stamp duty.
• Professional fees for the advisors who make a listing possible: legal advisors, auditors, registrars to the issue, merchant bankers and company secretaries.
• Other miscellaneous costs connected with the IPO.

The idea is to reduce the upfront financial load that stops smaller companies from accessing public markets. Sanctioned amounts are credited to the applicant's Loan or Cash Credit account through RTGS/NEFT.

RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD is offered by Department of Industries, UT Administration of Dadra and Nagar Haveli and Daman and Diu, a government body. As a government-backed subsidy, it is publicly funded and open to eligible startups across India.

Every application begins on the online portal. Once it is submitted, the papers go through scrutiny and verification by the UT RAMP Programme Committee (UTRPC).

Acting on the committee's recommendation, the District Industries Centre (DIC) issues a formal sanction order in favour of the approved SME.

From the point at which the department receives a complete set of documents, the target is to close the process within 90 days. Applications are taken up on a first-come, first-served basis, and approvals are subject to funds being available at that time.

Before you apply to RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD, keep the following documents ready:

• A pitch deck or short business plan describing the problem, product and traction
• Company registration documents and PAN
• Founder identification (PAN / Aadhaar) and brief profiles
• Recent financial statements or projections
• Product details — a demo, prototype or working link if available

Exact requirements are confirmed on the official application portal — treat this as a preparation checklist.

RAMP Intervention 3: ₹15L IPO Subsidy for SME Exchange Listing — DNH&DD is best suited for startups in India seeking non-dilutive funding of ₹15L. If that describes your startup, review the eligibility criteria above before applying.