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Last updated: 2 October 2026
The Social Stock Exchange (SSE) lets eligible not-for-profit organisations register with a stock exchange and raise funds through Zero Coupon Zero Principal (ZCZP) instruments. Expertvuw’s team checks eligibility, prepares registration documents and sets up the disclosure framework.
The Social Stock Exchange is a separate segment of NSE and BSE, set up under SEBI’s ICDR and LODR framework, for social enterprises. Eligible not-for-profit organisations (NPOs) — such as charitable trusts, societies and Section 8 companies, including those registered under specified income-tax provisions — must first register on the SSE before raising funds.
NPOs raise funds mainly through Zero Coupon Zero Principal (ZCZP) instruments, which pay no interest and do not repay principal; donors effectively fund a specific project and receive impact reports. SEBI reduced the minimum ZCZP issue size to ₹50 lakh and, in March 2025, the minimum application size to ₹1,000, making retail participation easier.
Registered NPOs must make annual disclosures, and those that raise funds must publish an annual impact report assessed by a social impact assessor.
Basis: SEBI (ICDR) Regulations, 2018 – Chapter X-A; SEBI (LODR) Regulations, 2015 – Chapter IX-A; SEBI circulars on the Social Stock Exchange (including March 2025); NSE and BSE SSE guidelines. Last updated: 27 September 2026.
NPOs must register on the SSE before raising funds.
Zero Coupon Zero Principal instruments pay no interest and return no principal.
₹50 lakh for ZCZP issues.
₹1,000, following SEBI's March 2025 change.
Subscriptions to ZCZP may qualify as eligible donations for donor deduction, subject to the tax law.
NPOs that raise funds must publish annual impact reports.
Most SSE issues relate to readiness and reporting.
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SSE registration connects with these services.
Tax registration for NGOs.
Annual compliance for NGOs.
CSR funding compliance.
NGO Darpan registration.
Check NPO eligibility.
Apply to register on the SSE.
Define the project and outcomes.
Prepare and file the ZCZP offer document.
Open the issue to donors.
Publish impact reports.
SSE registration brings ongoing disclosures.
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A segment of NSE and BSE where eligible not-for-profit organisations can register and raise funds, mainly through ZCZP instruments.
Eligible NPOs such as charitable trusts, societies and Section 8 companies meeting SEBI’s criteria.
A Zero Coupon Zero Principal instrument that pays no interest and does not return principal; it funds a specific social project.
₹1,000, following SEBI’s March 2025 change.
Yes. NPOs that raise funds must publish annual impact reports assessed by a social impact assessor.
ACS – Director, Expertvuw Management Pvt Ltd
SEBI applications and filings are prepared by Expertvuw’s team. Certificates, audits and due diligence that SEBI regulations reserve for practising professionals or registered intermediaries are provided by independent registered professionals, and representation before SEBI or SAT is made by advocates or authorised professionals.