- NSE hosts second major event on Social Stock Exchange at Bharat Mandapam
- The SSE in other countries was initiated by NGOs themselves, whereas in India, the government is playing the pivotal role to bring social enterprises on a regulated platform, says Chauhan
- Tax benefits under 80G will be likely to be incorporated while investing in SSE instruments: R Balasubramaniam, Chairman, SSE Advisory Committee
- Since its inception, the Social Stock Exchange in India has seen encouraging progress with 65 NPOs registered and 8 NPOs listed on the NSE-SSE platform
NE BUSINESS BUREAU
MUMBAI, JUNE 15
The National Stock Exchange of India (NSE) successfully hosted its second major event on the Social Stock Exchange (SSE) today at Bharat Mandapam, New Delhi. The event witnessed participation from a diverse audience including senior government officials, SEBI and NSE representatives, social enterprises, impact investors, and various Non-Profit Organizations (NPOs). Eminent dignitaries Shri Tarun Kapoor, Advisor to the Hon’ble Prime Minister; Dr. R Balasubramaniam, Chairperson of the Advisory Committee, Social Stock Exchange, SEBI; Shri Kamlesh Chandra Varshney, Whole Time Member, SEBI; Shri Ved Mani Tiwari, CEO, NSDC; Shri Ajay Yadav, IAS, Joint Secretary, Ministry of New and Renewable Energy, GoI; Sushri Leena Kumar, Ministry of Finance, GoI; and Shri Sriram Krishnan, Chief Business Development Office (CBDO) graced the occasion.
The seminar commenced with an insightful special address by the Chief Guest Dr. R Balasubramaniam, Chairperson of the Advisory Committee, Social Stock Exchange, SEBI, who set the tone for the day’s discussions by highlighting the pivotal role of SSE in driving inclusive growth and financial inclusion.
R Balasubramaniam, Chairman SSE Advisory Committee said, “Tax benefits under 80G will be likely to be incorporated while investing in SSE instruments. Further, we have also recommended to Sebi that a portion of corporate social responsibility (CSR) should be reserved for investing in NPOs listed on SSE. “
This was accompanied by an opening address by Guest of Honour, Shri Kamlesh Chandra Varshney, Whole Time Member, SEBI, who emphasized upon the regulatory support and vision driving SSE’s evolution.
Shri Ashishkumar Chauhan, MD & CEO, NSE mentioned the vision outlined by Hon’ble Finance minister of India during her budget speech for financial year 2019 introducing the concept of Social Stock Exchange. He further elucidated “Under the guidance of SEBI, NSE has initiated a series of events across India to raise awareness about the Social Stock Exchange. Our main goal is to educate and engage stakeholders, fostering greater collaboration and increasing visibility for this innovative platform. Following the success of our first event in Bangalore, we are excited to host our second event here today. These seminars hold immense promise for all stakeholders, particularly NPOs. It provides a platform to demonstrate their work, connect with potential donors and impact investors, and gain insights to maximize their social impact.”
The NSE has been proactive in ensuring the success of the Social Stock Exchange. Initiatives such as the e-IPO, capacity-building events, and special pitch sessions are aimed at empowering NPOs and facilitating their fundraising efforts. The SSE framework, guided by SEBI, offers a structured mechanism for fundraising, transparency, and impact measurement, thereby enhancing trust and efficiency in the social sector. The panel discussions, focusing on themes such as ‘Social Stock Exchange (SSE): Empowering Social Enterprises and Strengthening Partnerships for Social Impact’, ‘Driving Social Impact: Leveraging Outcome-based Philanthropy through Social Stock Exchange’, and ‘Measuring Impact: Metrics and Evaluation in Social Investing’, provided a platform for engaging dialogue and knowledge exchange among stakeholders. Expert speakers shared their perspectives, best practices, and success stories, inspiring attendees to harness the power of SSE for social good.
Since its inception, the Social Stock Exchange in India has seen encouraging progress with 65 NPOs registered and 8 NPOs listed on the NSE-SSE platform. These eight listed NPOs have successfully mobilized funds exceeding INR 11 crore, contributing significantly to areas such as education, healthcare, women empowerment, and environmental sustainability.
The event in New Delhi marked a significant step towards building a robust ecosystem for social finance and impact investing in India. NSE remains committed to supporting NPOs and social enterprises through continuous innovation and collaborative efforts.
The seminar on ‘Accelerating Social Impact with Social Stock Exchange (SSE) stands as a testament to the collective resolve and dedication of stakeholders towards driving positive change through innovative financial mechanisms. NSE looks forward to building on this momentum and catalysing greater impact in the journey towards a more equitable and sustainable future.
