As per the proposal, the restriction to invest up to 25% (of their net assets) in group companies or sponsors has been sought to be removed.
The Indian School of Development Management (ISDM) has created a comprehensive eligibility portal for the Social Stock Exchange (SSE) together with the SEBI.
The portal has been designed to help non-profit organisations determine their eligibility and requirements to apply for resources from the SSE platform.
It was unveiled by the institute during the convocation ceremony for the fifth batch of its flagship post graduate programme in Development Management (PGP DM).
SEBI Chief Madhabi Puri Buch was the Guest of Honour at the event who joined the ceremony online from Mumbai. She inaugurated the SSE eligibility portal after delivering the keynote speech.
Highlighting the significance of the Social Stock Exchange and the eligibility portal in her keynote speech, Madhabi Puri Buch said: “We wish to create a high level of transparency and assured disclosure through the social stock exchange to build trust for those who wish to contribute capital to social causes.”
“It is our hope at SEBI that social investment becomes an integral part of their investment portfolios and becomes accepted as an independent asset class in the markets. This will enable social purpose organisations to have access to capital.”
Ravi Sreedharan, ISDM co-founder and president, said the work that SEBI and ISDM have done together on the eligibility portal for the social stock exchange is truly nation building.
“The ground has finally been set for Samaaj, Sarkar and Bazaar (society, administration and markets) to work together and address vital funding needs for social sector requirements,” he said.
He added, “In the seven years since our birth, the organisation has made remarkable and important strides in breaking barriers in its academic programmes, its research and knowledge creation and in its models for use and application for social impact.”
Trisha Varma, Director, Global Knowledge Hub, said: “The SSE eligibility portal has been designed as part of a project for our centre-of-excellence on social finance.”