The political situation of India is waiting for an upcoming bill on social stock exchange. Although the concept is new in India but the concept is not virgin in the entire world. Several countries of the world are well aware of such concept and applied social stock exchange in their economy successfully. The concept of social stock exchange is well-practiced in countries like Canada, Singapore, South Africa, United Kingdom. Before the introduction of such a step as discussed in various news media and articles, investigation into various opportunities and threats for such policy are required to be performed in the Indian context for social impact investments. Under this context, this paper presents a scenario of choosing the best option for an individual investor, from among various investment alternatives after the introduction of social stock exchange in India. A multicriteria decision analysis model based on PROMETHEE has been applied for the purpose of ranking the alternatives under a set of selected criteria such as tax benefits, return from organizations and risk involved. The technique helps to rank the alternatives in the order of preference so as to enable an individual investor to choose the best one among all the possible alternatives. A numerical example shows the application of the ranking problem as presented in this paper.