Social Stock Exchange Advisory for NPOs & FPSEs
Build SSE readiness and credible impact reporting with certified expertise.
NISM-certified, ISAI-registered (ISAI/SA-674) Social Impact Assessor
What is the Social Stock Exchange?
The Social Stock Exchange (SSE) is a regulated segment of recognised stock exchanges, BSE and NSE, that enables eligible Non-Profit Organisations and For-Profit Social Enterprises to raise funds in a transparent, credible and SEBI-regulated manner.
For instruments issued by NPOs, such as Zero Coupon Zero Principal (ZCZP) instruments, investors do not receive financial returns or interest. The focus is on social return: the positive, measurable social impact created through the funded project. For-Profit Social Enterprises listing on the SSE may issue equity or debt instruments that carry financial returns, subject to SEBI regulations.
For NPOs, SSE listing offers structured access to a new class of impact-conscious funders, while demonstrating the governance and accountability standards that traditional donors increasingly expect.
Why SSE matters for your organisation
Credibility
SSE registration demonstrates regulatory-grade governance, transparency, and accountability: signals that strengthen every funding conversation, not just SSE-specific ones.
Access
SSE listing opens a structured fundraising channel through instruments like ZCZP, connecting NPOs with impact-conscious investors through regulated platforms.
Compliance readiness
The documentation, disclosure, and impact reporting standards required for SSE listing strengthen your organisation's overall compliance posture: across CSR funders, SEBI requirements, and the DPDPA.
The CSR-SSE convergence
Subscription to ZCZP instruments issued on the Social Stock Exchange is now a permissible CSR activity under Schedule VII of the Companies Act, 2013. Companies may now route up to 10% of their total annual CSR expenditure through ZCZP instruments, creating a new, structured funding channel for SSE-listed NPOs beyond traditional donations and grants.
SSE advisory services
A staged pathway from eligibility to listing support, each phase building the evidence and disclosure your organisation needs.
Eligibility & Gap Analysis
- SSE eligibility assessment against SEBI criteria
- Organisational gap analysis: governance, reporting, impact measurement, and data practices
- Roadmap to registration and disclosure readiness
Documentation & Disclosure
- Impact and institutional inputs for SSE documentation
- Annual Impact Report (AIR) framework and structuring
- Disclosure alignment with SEBI-SSE requirements
Impact Measurement & Reporting
- Impact measurement framework design
- Social Impact Report by a NISM-certified Social Impact Assessor
- Capacity building for impact reporting and disclosure readiness
Listing Support
- Project and impact inputs for SSE listing discussions
- Social outcome and evidence alignment for fundraising strategy
- Post-listing impact reporting support
SSE frequently asked questions
Can an NPO raise funds from other sources while listed on the SSE?
Yes. SSE listing does not restrict an NPO from receiving donations, CSR funds, grants, or other lawful funding. Disclosures and compliance requirements must be met for all funding sources.
What are the benefits of listing at SSE?
Greater visibility and credibility with institutional funders, access to structured fundraising through regulated platforms (BSE/NSE SSE segments), and demonstrated governance standards that strengthen all funding relationships. From May 2026, corporate CSR funders can route up to 10% of their total annual CSR spending through ZCZP instruments issued by SSE-listed NPOs, creating a new, direct funding channel.
How does an NPO register and list on the SSE?
An eligible NPO first registers with the SSE by submitting prescribed documents. After registration, it may list eligible instruments, such as Zero Coupon Zero Principal (ZCZP) instruments, for fundraising, subject to SEBI-SSE requirements. The process requires impact measurement frameworks, governance documentation, and annual impact reporting.
Do all SSE instruments provide zero financial returns?
Instruments issued by NPOs on the SSE, such as ZCZP instruments, do not provide financial returns or interest to investors. However, For-Profit Social Enterprises listing on the SSE may issue equity or debt instruments that carry financial returns, subject to SEBI regulations. The distinction depends on the type of entity and the instrument issued.
Can corporates direct funds to SSE-listed NPOs?
Yes. The Companies (CSR Policy) Amendment Rules, 2026 [G.S.R. 415 (E), 27 May 2026] amended Schedule VII to include subscription to ZCZP instruments on the Social Stock Exchange as a permissible CSR activity, subject to a 10% cap on total annual CSR expenditure.