NSE has got the final approval from SEBI to launch Social Stock Exchange.
About
Social stock exchange will enable entities involved in social activities such as charitable trusts and non-profit organizations (NPO) to access the capital market for funds.
Aim
To provide new avenues for social enterprises to finance social initiatives, provide them visibility, and bring in increased transparency in fund mobilization and utilization.
Eligibility
Any social enterprise, Non-Profit Organization (NPOs), or For-Profit Social Enterprise (FPE) that establishes its primacy of social intent. Corporate foundations, trade associations, political and religious organizations, infrastructure companies are not eligible.
Functioning
The SSE will allow enterprises to raise capital as equity, debt, or as units like a mutual fund. The minimum issue size is set at INR 1 crore. The minimum application size for subscription is INR 2 lakh for Zero Coupon Zero Principal (ZCZP) issuance. SSE already exists in countries such as Singapore, UK, and Canada among others.
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