The Securities and Exchange Board of India (SEBI) on January 19, 2026, issued the Master Circular for Framework on Social Stock Exchange (SSE).
SEBI has over time issued multiple circulars and directions governing the framework for the Social Stock Exchange under the SEBI (ICDR) Regulations, 2018 and the SEBI (LODR) Regulations, 2015. To streamline access and improve clarity for stakeholders, SEBI has now issued a Master Circular that consolidates all existing circulars related to the Social Stock Exchange into a single document.
With the issuance of this Master Circular, all earlier circulars listed in its Appendix stand rescinded to the extent that they pertain to the Social Stock Exchange framework. However, this rescission does not invalidate actions already taken under the earlier circulars. Any actions, applications, rights, obligations, liabilities, penalties, or legal proceedings arising under the rescinded circulars will continue to remain valid and enforceable as if those circulars were still in force.
The Master Circular has been issued under the powers conferred on SEBI by Section 11(1) of the SEBI Act, 1992, with the objective of protecting investors’ interests, promoting the development of the securities market, and regulating it effectively. The Master Circular is publicly available on SEBI’s website under the “Legal > Master Circulars” section.
A detailed framework on SSE is attached to the document below.
[Circular No. HO/49/14/14(6)2025-CFD-PoD1/I/2771/2026]
