Book Title: Shaping the Future: Innovation, Sustainability, and Inclusive Growth in a Globalized Economy
Editors: Editors: Dr. Shanu Singh, and Dr. Yashmita Awasthi
Student Editor: Krishna Singh Rawat
ISBN: 978-93-7183-006-5
Chapter: 6
DOI: https://doi.org/10.59646/725/6
Author: Yashika Sharma
Abstract
The concept of Social Stock Exchange was introduced by the Securities and Exchange Board of India (SEBI) under Chapter X – A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations. Being conceptualized in 2019, further SEBI issued its formal framework circular in September 2022. It is created with the objective to facilitate the fundraising of social sector organizations through the transparent and regulated platform.
With India’s deep rooted morals and devotion to donate for the betterment of all, this initiative makes it possible to bring the social impact through SEBI backed platform. It is for both non – profit organizations (NPOs) and profit social enterprises (FPEs) implemented through instruments like Zero Coupon Zero Principal (ZCZP) bonds. Despite SEBI being the backbone of SSE along NSE & BSE, the success of SSE depends significantly on stakeholder participation – specifically the retail donors, investors, professionals, and small business owners. India’s philanthropic culture remains mostly informal and visibility driven, specifically among the small business owners and sole proprietors whose CSR involvement is often motivated by personal values, goodwill and the brand visibility rather than structured impact measurement. This study examines whether the SSE can bridge the gap between traditional philanthropy and regulated impact finance by finding awareness levels, participation intent, regulatory perceptions, and operational challenges from both the general public and professionals.