SEBI Circular Dated 15/04/2026 – Review of Norms for registration of NPO on SSE and minimum subscription for issuance of Zero Coupon Zero Principal Instruments  

The circular has relaxed key regulatory requirements under the Social Stock Exchange (SSE) framework to boost participation by Not-for-Profit Organizations (NPOs). The registration validity for NPOs on SSE has been extended from two years to three years, even if they do not raise funds during this period. The minimum subscription threshold for issuance of Zero Coupon Zero Principal (ZCZP) Instruments has been reduced from 75% to 50%, provided exchanges ensure via due diligence that partial funding remains viable and aligned with stated objectives. 

(Link: SEBI Circular Dated 15/04/2026)

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