Element 01
Eligibility Criteria
NGOs and social enterprises must meet specific criteria regarding legal structure, operational history, and financial performance to be eligible for listing.
SEBI • SSE
SEBI Guidelines
SEBI Guidelines for the Social Stock Exchange
The Securities and Exchange Board of India (SEBI) has established comprehensive guidelines to ensure the effective functioning of the Social Stock Exchange — maintaining transparency, accountability, and investor protection.
Transparency Accountability Investor Protection
Regulatory Snapshot
Key elements at a glance
SSE
Eligibility & structure checks
Disclosures & impact reporting
Due diligence verification
Ongoing compliance & audits
Key elements
What SEBI expects for SSE participation
Built for clarity • Designed for trust
Element 02
Disclosure Requirements
Detailed disclosure of financial statements, social impact metrics, governance structures, and use of funds is mandatory.
SEBI • SSE
Element 03
Due Diligence
Thorough due diligence is conducted to verify the authenticity and credibility of applicant organizations.
SEBI • SSE
Element 04
Compliance with Regulations
Adherence to SEBI regulations, including periodic reporting and audit requirements, is mandatory to ensure continued listing on the SSE.
SEBI • SSE
How it works
A simple compliance path for NGOs
SEBI’s framework focuses on eligibility, credible disclosures, verification, and continued reporting—so investors can trust outcomes and governance.
Step 1
Eligibility
Confirm legal structure, history, and baseline readiness.
Step 2
Disclosures
Financials, governance, impact metrics, and fund usage.
Step 3
Due diligence
Verification of credibility and authenticity of submissions.
Step 4
Ongoing compliance
Periodic reporting, audits, and timely disclosures.
Eligibility
Who can register on the SSE
To register — or raise funds — a non-profit must be a registered charitable entity that clears SEBI's baseline:
- Constituted as a charitable trust, society, or Section 8 company
- Registered and operational for at least 3 years
- Valid 12A / 12AA / 12AB registration (valid ≥ 12 months from listing)
- Valid 80G registration under the Income-tax Act
- Minimum ₹50 lakh annual spend in the prior financial year
- Minimum ₹10 lakh funding received in the prior financial year
- Not dependent on a single corporate for more than 50% of its funding
Political and religious organisations are not eligible. SEBI revises these thresholds periodically — confirm current limits before applying.
Two ways to participate
Register only
Make continuous disclosures on the SSE without raising funds — building a public, verifiable track record.
Register and raise
NPOs raise via Zero Coupon Zero Principal (ZCZP) instruments; for-profit enterprises use equity, debt, or development-impact bonds.
Continuing disclosure
Within 60 days of the financial year-end — annual disclosure on general, governance, and financial aspects.
Within 90 days — an annual impact report assessed by a SEBI-recognised Social Auditor (SEBI has granted extensions in some years).
Current framework
Reflecting SEBI's latest SSE rules
A SEBI circular dated 15 April 2026 (effective immediately) introduced two relaxations that matter most for NPOs:
- NPO registration validity extended from 2 to up to 3 years (a two-year non-fundraising window, extendable by one year with SSE approval).
- ZCZP minimum subscription is 75%, which the SSE may reduce to 50% subject to its due diligence, considering the subscription scenario.
Always confirm the current position against SEBI's notifications before acting.
Official sources
SEBI — SSE Master Circular (19 Jan 2026)
The consolidated regulatory framework
SEBI — NPO registration & ZCZP relaxations (15 Apr 2026)
Review of requirement relating to registration for a Not for Profit Organization on Social Stock Exchange and minimum subscription requirement for issuance of Zero Coupon Zero Principal Instruments
NSE — Social Stock Exchange
Registration and listing on NSE SSE
BSE — Social Stock Exchange
Registration and listing on BSE SSE