Mumbai: A momentous event unfolded in the world of social finance as Prashanthi Balamandira Trust, in collaboration with the National Stock Exchange of India Ltd and Aditya Birla Sun Life AMC Ltd, hosted an event spotlighting the Social Stock Exchange segment. This platform, a novel initiative, paves the way for social enterprises to not only finance their impactful initiatives but also gain visibility, enhanced transparency, and recognition in fund mobilization and utilization. This convergence offers a unique opportunity for any social enterprise, be it a Not-for-Profit Organization (NPO) or a For-Profit Social Enterprise (FPE), to register or list itself on the Social Stock Exchange segment, provided its unwavering commitment to social betterment is unequivocally established.
An Invitation to Transformative Endeavors: NSE Chief’s Call
Mr. Ashishkumar Chauhan, the Managing Director, and CEO of the National Stock Exchange of India Ltd, extended a resounding invitation to top-tier social enterprises that are at the vanguard of transformative work in the developmental sector. His appeal echoed through the event, urging these exemplary entities to step onto the Social Stock Exchange (SSE) platform and elevate their impact even further. This call to action was particularly resonant as Prashanthi Balamandira Trust, under the guidance of the revered Sadguru Sri Madhusudan Sai, stood at the threshold of SSE registration, adorned by its recent Consultative Status recognition by the United Nations Economic and Social Council (ECOSOC).
Unveiling a Nexus of Impact: SSE’s Promise and Vision
Mr. Chauhan’s keynote address painted a vivid picture of the Social Stock Exchange’s pivotal role, not only as a credible fundraising platform for social enterprises but also as a conduit for conscious investors seeking alignment between their values and financial decisions. Currently hosting 18 NPOs spanning sectors like skill development, healthcare, sanitation, education, and women’s empowerment, NSE’s Social Stock Exchange presents a dynamic arena for raising funds through its innovative Zero Coupon Zero Principal (ZCZP) instruments. This initiative is underpinned by a vision of forging a future that is not only equitable and sustainable but also marked by compassion.
Envisioning Unity: The Synergy of Market, Government, and Society
Sri Madhusudan Sai, a guiding force behind Prashanthi Balamandira Trust, eloquently emphasized the collective responsibility in driving impactful change. He highlighted the interconnected roles of the stock market, government bodies, and corporate entities while underscoring the indispensable role of society in forging success. He called for a confluence of opportunities and charity, stressing the need for a structured framework to recognize and reward non-monetary contributions. Sai proposed the creation of an ESG (Environmental, Social, and Governance) credit score for charitable organizations, a step toward evaluating their holistic impact.
Empowering Donors: Insights from a Panel Discussion
The event also played host to a thought-provoking panel discussion titled “Social Stock Exchange: Understanding Donors’ Perspective.” Esteemed experts convened to deliberate on crucial indicators for donors who support the listed non-profits. The panel comprised luminaries such as Ms. Dhruvi Shah – Executive Trustee and CEO, Axis Bank Foundation; Mr. Anuj K. Agarwal – CEO, ICICI Foundation; Mr. J N Gupta – Founder and MD, Stakeholders Empowerment Services; Mr. Shailesh Haribhakti – Chairman, Shailesh Haribhakti & Associates; Mr. Raman Malik – GM Admin and CSR, CO, BPCL; and Dr. Harish K Ahuja – SVP, National Stock Exchange. The Social Stock Exchange, as echoed by the discussion, ushers in an era of transparency, credibility, and branding for the listed non-profits, enhancing their ability to mobilize and utilize funds with purpose.
As Prashanthi Balamandira Trust embarks on this transformative journey into the Social Stock Exchange, the event stands as a testament to the power of collaboration, innovation, and a shared vision of a more compassionate and prosperous future.