On 13th December, National Stock Exchange of India’s Social Stock Exchange (NSE SSE) held an event for historic moment of Country’s First Ever Listing by SGBS Unnati Foundation at NSE’s Headquarter and it was attended by an esteemed gathering of dignitaries, NPOs, Regulators and media houses.
This First Listing witnessed fund mobilization of Approx. INR 1.8 Cr, which will enable SGBS Unnati Foundation to impart training to approx. 10,000 graduating youths in their final years from government colleges located across various states, such as Uttar Pradesh, Madhya Pradesh, Karnataka, Andhra Pradesh, and Tamil Nadu.
“This is the momentous day for our country as we witness the launch of listings on a new platform that will enable Social Enterprises including Non-profit Organisations to access capital and raise funds for a noble cause. Social stock exchange or SSE is a visionary initiative of the Government of India, that was presented in the budget of 2019 to create an ecosystem that foster social innovation, inclusion, and impact. SSE as envisaged in India does not have any parallel across any jurisdiction across the world and aims to provide a transparent and credible mechanism for investors to identify, evaluate and support social ventures that are creating positive change in our society.” said Ashwani Bhatia, Whole Time Member, SEBI.
SEBI Social Stock Exchange Advisory Committee Chairman R. Balasubramaniam said “The historicity of today’s event is truly coming from the space of working at the grass roots with communities operating under the distress of inconsistent, inadequate funding to ensure social change happens. It is a moment of real pride and honour to be participating with the hope that this will change the social fabric of this country itself. It is all our collective responsibility to make sure that the SSE of India becomes a global benchmark” He also adds that capacity building is not only required for the NPOs, but also for the regulators and exchanges. They need to equally understand the social sector.
“NSE listed companies have created social impact in the form of wealth creation, job creation and overall economic growth through common person’s participation in the markets for the last three decades. With the listing on Social Stock Exchange, the impact is going to increase manifold. This framework offers a host of advantages such as Transparency, Trust, Efficiency, Cost Savings, Discoverability, Impact Measurement and Outcome Based Philanthropy. By aligning the dual goals of corporate success and societal impact, SSE creates a space where philanthropists, impact investors, donors, and NPOs converge – each contributing to a shared vision of a more equitable and sustainable future” said Ashishkumar Chauhan, NSE MD & CEO. He also gave a special mention to SEBI that played a pivotal role in launching the Social Stock Exchange framework in India.
