Commenting on the outcome of this process, she added, “At present, this exercise means more about standing out. It is more for positioning. However, there is limited clarity on other advantages, especially fundraising. But definitely, it will put us on the list of early adopters and help us in brand building.”
Meanwhile, there are over 20 different social organisations registered under the SSE platform of both exchanges. Here are the details:
Social Enterprises | Exchanges | Area of work |
Development Management Foundation | NSE, BSE | An educational institution founded to create, strengthen and establish development management |
Gramalaya Trust | NSE | Operate in the field of water, sanitation, and hygiene in rural, urban, coastal and tribal areas |
Green Age | BSE | - |
Grey Sim Learning Foundation | NSE | Provide vocational skills and products to increase the employability and productivity of the youth |
Krushi Vikas Va Gramin Prashikshan Sanstha | NSE | Aims at the betterment of rural, semi-rural, and diversifying urban communities depending on agri and nonfarm-based activities for their livelihood |
Lighthouse Communities Foundation | BSE | Enabling livelihoods for all |
Masoom Trust | NSE | Empower, strengthen and transform night schools to empower youth. |
Missing Link Trust | NSE, BSE | Engages with the public on the issue of sex trafficking and missing girl child |
Mukti | NSE | Help the poor and distressed across the globe |
Opportunity Foundation Trust | NSE, BSE | Avasar Foundation was created to help lift girl children out of poverty through education |
People’s Rural Education Movement | BSE | Working for the development of Adivasi (indigenous), Dalit, Fisher folk and other marginalized communities of Odisha and neighbouring states of India |
Possit Skill Organisation | NSE,BSE | Support unemployed youth to harness their talent and develop their market-oriented skills |
Ratna Nidhi Charitable Trust | NSE | This trust looks at tackling the problems of poverty in Mumbai, especially among young children |
Saath Charitable Trust | BSE | Works with the deprived communities and empowers the socially marginalised by providing them livelihood services, and imparts skills |
Samvedna Development Society | NSE | - |
Score Livelihood Foundation | NSE | Empower communities with sustainable and inclusive livelihood options |
SGBS Unnati Foundation | NSE, BSE | It is about equipping underprivileged youths and providing employment |
Shri JagatBharti Education and Charitable Trust | BSE | - |
Supporting Association for Thematic and Holistic Initiatives (SATHI) | BSE | Improves the lives of individuals, especially women and children |
United Way of Delhi | NSE | Help individuals achieve their potential through education, financial stability, and access to health |
United Way Mumbai | NSE | Help individuals achieve their potential through education, financial stability, and access to health |
Vatsalya Trust | BSE | - |
Voice Society | NSE | Voluntary Action Group of Academicians, Professionals and Volunteers who work to raise awareness amongst Indian consumers about their own Consumer Rights |
At present, social enterprises — for-profit and not-for-profit entities — can only register on the platform and not raise funds. BSE-registered United Way Mumbai’s spokesperson told CNBC-TV18, “Within three to four weeks, we were able to register. This period included time to collate documents, get them verified by our Chartered Accountant, submit to SSE and await SSE verification.”
But now they are waiting for the next step and the most important one. Speaking to CNBC-TV18, Sanaa Shaikh, Chief Operating Officer of United Way Mumbai said, “At present organisations are only able to register on the platform. The format for offer documents and fundraising is yet to be released. It will only be possible to start fundraising or see any outcomes on the platform once this is done.”
She added, “We are hoping to tap into new sources of funding and build visibility for our work.”
An SSE is an electronic fundraising platform that allows an alternative fundraising option for social enterprises. Meanwhile, the listing process for SSEs works similarly to an initial public offering (IPO). The difference here is instead of allotted shares, participants will get Zero Coupon Zero Principal (ZCZP) instruments.
The NSE received final approval to launch SSE as a separate segment in February this year. However, in December 2022, the NSE received in-principle approval from the regulator Securities Exchange Board of India (SEBI) to set up an SSE as a separate segment.
Meanwhile, it was in October 2022 that BSE received an in-principle nod from the capital market regulator to introduce SSE as a separate segment on the platform. In December 2022, the regulator granted its final approval for the same.
This concept is still very new to India and was introduced by Finance Minister Nirmala Sitharaman in her Union Budget speech for the financial year 2019-20. Globally, countries like Brazil, Canada, Jamaica, Portugal, South Africa, Singapore and the UK already have established SSEs.
As per the criteria prescribed by SEBI, social enterprises engaging in certain activities are eligible — such as promoting healthcare, education, employability, and livelihoods; eradicating hunger, poverty, malnutrition, and inequality; protecting national heritage, art and culture; ensuring environmental sustainability; supporting incubators of social enterprises and promoting gender equality empowerment of women and LGBTQIA+ communities; among others.
The regulator permits the minimum issue size as Rs 1 crore and the minimum application size for subscription at Rs 2 lakh.