Sebi extends the deadline further till 15th Aug open for public comments on SSE report
The market regulator, SEBI on Tuesday extended the deadline for sending public comments on the social stock exchange report till August 15, 2020. The purpose of this extension is to allow a direct listing of non-profit organizations.
Sebi has received various representations due to the COVID-19 pandemic situation and for considering a further extension of the timeline for the proper submission of reports. This the second extension granted by Sebi. The first deadline was 30th June which was further extended to July 15, 2020.
Social Stock Exchange is the present-day concept in the country and such a course of action is meant to serve both the private as well as non-profit sector providers which will help in channelizing larger capital for them. Sebi-panel supervises on SSE for its submitted reports. Ishaat Hussain, director at SBI foundation and former finance director of tata sons was leading the working group of Sebi Sep 2019. Some new reporting standards have also been set up for organizations that would raise funds under the SSE.