Wednesday, June 19, 2024
HomeMarket NewsSEBI proposes lower issue, application size for social stock exchanges

SEBI proposes lower issue, application size for social stock exchanges

Published on

Latest articles

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono It...


A SEBI committee has proposed reducing the threshold of the minimum issue size for not-for-profit organisations (NPOs) issuing Zero Coupon Zero Principle Instrument (ZCZP) on social stock exchanges to ₹50 lakh from ₹1 crore. It has proposed that the minimum application size may be reduced to ₹10,000 from ₹2 lakh currently.

“SSE is at an initial stage and NPOs may find it difficult to raise ₹1 crore from a limited set of investors. Lowering the minimum application size threshold will help large number of investors who may like to subscribe to ZCZP of more NPOs,” the proposals said.

The requirement of valid 80G certificate for NPOs may not be mandated for them to seek registration with SSE, the proposals said. 

The committee has recommended that NPOs having notice or ongoing scrutiny by the income tax department may be permitted on SSE if details on pending notices and fines are disclosed at the time of making the application. SSEs will have the right to refuse registration if the notices are grave.

The committee has recommended that the term social auditor be changed to social impact assessor. The regulator has sought feedback till September 19.





Source link

More like this

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...