New Delhi, Nov 1st, 2023: In its commitment to demonstrate social and economic impact for women, the Association of Business Women in Commerce & Industry (ABWCI) is now registered on the Social Stock Exchange (SSE).
This aligns with the Government of India’s mandate to empower organizations dedicated to serving underserved communities. The SSE is a platform designed to facilitate access to a broader capital base for social enterprises and voluntary organizations operating within the social sector, further strengthening their capacity to drive positive change.
The Social Stock Exchange segment (SSE) on NSE provides Social Enterprises (Non-profit organizations (NPOs) engaged in eligible activities a unique opportunity to register itself and raise funds on a recognized exchange platform.
Social enterprises, including not-for-profit organizations (NPOs) that fulfil the registration requirements, are eligible to enrol in the SSE and commit to providing ongoing reports regarding their social impact. These NPOs may opt to raise funds through the SSE or not, but they will consistently provide disclosures, including those related to their social impact, to stock exchanges.
Commenting on the achievement, Mr. Parul Soni, Founder and Secretary General of ABWCI said, “We are proud to be part of the Social Stock Exchange, where we can showcase our commitment to sustainable innovation and engage with investors who share our values of creating a robust community of women entrepreneurs; providing them with opportunities to access investment capital, trade networks & entrepreneurial education; and advocating for policies resulting in women-centric entrepreneurial ecosystems worldwide. Our journey towards a more sustainable and equitable world has just taken a significant leap forward.”
The Hon’ble Finance Minister Smt. Nirmala Sitharaman as part of the Budget Speech for FY 2019-20 proposed the idea of an electronic fund-raising platform “Social Stock Exchange”, under the regulatory ambit of SEBI for listing social enterprises and voluntary organizations working for the realization of a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund.
The Social Stock Exchange (SSE) is a separate segment of the existing Stock Exchange that can help social enterprises raise funds from the public through the stock exchange mechanism. The SSE will act as a medium between social enterprises and fund providers that can help them to select those entities that are creating measurable social impact and reporting such an impact.
Sharing her thoughts, Dr. Ambika Sharma, CEO of ABWCI said, “ABWCI is enabling and celebrating women’s business acumen and ambition by connecting members to investors, incubators, accelerators, traditional donors, thought leaders, academia, professional development resources, and relevant opportunities. SSE is a leap towards unlocking the potential of women as entrepreneurs – creating a cadre of job creators and not just job seekers. ABWCI is committed to furthering this through its initiative #WomenInVyapaar. “