The National Stock Exchange’s (NSE) Social Stock Exchange (SSE) platform listed two more NPOs on Thursday — Swami Vivekananda Youth Movement (SVYM) and Transform Rural India — taking the total number of SSE listings to five.

SVYM, which specialises in areas of education, health, socio-economic empowerment, environment and sustainability, has raised ₹1.55 crore, for a project which aims to establish an institution based on the recommendations of the National Education Policy 2020. Transform Rural India works in the areas of skill development and sustainable livelihoods, and has raised ₹2 crore for a project.

The other listed firms include Mukti, Ekalavya Foundation and SGBS Unnati Foundation. Together, these five firms have raised about ₹8 crore so far, with five more firms gearing up for a listing.

‘Will help build trust’

SEBI chief Madhabi Puri Buch said the listings are an important step towards inclusive growth of the social sector and will help build trust and expand the donor base for the organisations. “Most of these organisations are credible in their own space, they have good reputation, have existing donors and have the support of a large number of people of the communities that they serve. What will drive participation for the social sector is trust, which is what the social stock exchange will bring to the sector,” said Buch.

She said SEBI will seek permission of its Board to allow purchase of zero coupon zero principal bonds at its board meeting on Friday.

Finance minister Nirmala Sitharaman said the listings were a fulfilment of the vision announced in the 2019 Budget, aimed at bringing “the capital markets closer to the masses and meeting various social welfare objectives related to inclusive growth and financial inclusion,” through the SSE framework.

“The fund mobilisation via the SSE platform will be directed towards developmental projects in education, skill development, agriculture, livelihoods, women empowerment and more. The government is committed to supporting the platform, as this will enable the democratisation of investments and empower people across the country to take part in India’s growth story,” she said.

Savitha Sulugodu, CEO, SVYM stated, “State alone cannot sustain social development; hence, forces have to join together. Civil societies, citizens, organisations, corporates must join hands to build any country. I am excited and hopeful that the Social Stock Exchange will give a much-needed push to the social sector in India, as we all together working towards reaching the SDGs by 2030.”

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