SEBI Proposes SSE-EBP Platform for NPO Fundraising
Why in the news
SEBI proposed a separate electronic book provider for not-for-profit organisations raising funds on the Social Stock Exchange (SSE).
Key facts
- Platform: SSE-EBP, for Zero Coupon Zero Principal (ZCZP) and other approved securities.
- Mandatory for issues of ₹50 lakh or more, single or shelf.
- Open to QIBs, non-institutional and retail investors; FPIs barred.
| Item | Proposal |
|---|---|
| Bidding | Anonymous pooling, 9 AM to 5 PM on working days |
| Allotment | FCFS or pro-rata |
| Documents | Draft Fund Raising Document (DFRD) and Term Sheet, filed 2 days ahead (repeat issuers) or 5 days (first-timers) |
| Non-payment by bidder | 30-day debarment |
| Issuer withdrawal | 7-day debarment without valid reason (exception: under 75% subscription) |
Objective
- Transparency, standardisation and wider access to social sector funding, aligned with market infrastructure.
Exam angle
- Threshold: ₹50 lakh; instrument: ZCZP; regulator: SEBI.