Description

BSE implements SEBI amendments allowing Not for Profit Organisations registered on SSE to remain registered for maximum two years without raising funds.

Summary

BSE has implemented new measures following SEBI amendments to LODR and ICDR Regulations dated September 8, 2025. Not for Profit Organisations (NPOs) registered with BSE’s Social Stock Exchange platform can now remain registered for a maximum period of two years from registration date without raising funds. Registrations will automatically lapse if no funds are raised within this validity period.

Key Points

  • NPO registrations on BSE SSE platform from September 9, 2025 onwards valid for two years
  • Existing valid registrations as on September 9, 2025 also allowed to continue for two years from their respective registration dates
  • Registration automatically lapses if NPO does not raise funds within two-year validity period
  • Changes align with SEBI amendments to LODR 2015 and ICDR 2018 regulations
  • Contact sse@bseindia.com for queries

Regulatory Changes

SEBI amended the following regulations on September 8, 2025:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

Key amendment: NPOs registered with Social Stock Exchange permitted to remain registered without raising funds for maximum two years from registration date.

Compliance Requirements

  • NPOs must raise funds within two-year validity period to maintain registration
  • Failure to raise funds within validity period results in automatic lapse of registration
  • All stakeholders advised to take note of this update

Important Dates

  • September 8, 2025: SEBI notification date for regulatory amendments
  • September 9, 2025: Effective date - new two-year validity period applicable for new registrations from this date
  • Two years from registration date: Maximum validity period without fundraising

Impact Assessment

This circular impacts Not for Profit Organisations seeking or maintaining registration on BSE’s Social Stock Exchange platform. The two-year validity window provides NPOs reasonable time to raise funds while ensuring active participation on the platform. NPOs must plan their fundraising activities within the stipulated timeframe to avoid automatic lapse of registration. The measure promotes efficiency and active utilization of the SSE platform by registered entities.

Impact Justification

Affects NPOs registered on SSE platform with specific validity period requirements, but limited to social sector entities rather than broader market participants