Bengaluru based Unnati Foundation becomes the first NGO to be listed on NSE and BSE
Bengaluru-based SGBS Unnati Foundation (SUF), a not-for-profit organization, that provides students from underprivileged backgrounds with vocational training and social transformation training, has achieved a significant milestone by becoming India’s first NGO to be listed on NSE and BSE’s Social Stock Exchange
Bengaluru: Bengaluru-based SGBS Unnati Foundation (SUF), a not-for-profit organization, that provides students from underprivileged backgrounds with vocational training and social transformation training, has achieved a significant milestone by becoming India’s first NGO to be listed on NSE and BSE’s Social Stock Exchange. This remarkable achievement will pave the way for responsible and impact-driven investing in the social impact sector.
The Social Stock Exchange segment on NSE and BSE serves as a unique platform for Social Enterprises, encompassing both Non-profit organizations (NPOs) and For-profit enterprises (FPEs) engaged in eligible activities. SSE was conceptualised to help social enterprises bridge the funding gap and allow them to access a wider spectrum of resources and support for their initiatives. It’s a powerful avenue that is built on the idea of leveraging financial markets to redirect capital towards social impact initiatives. In addition, it also helps address the transparency and credibility concerns prevalent within the NGO sector, which often leads to mistrust among donors.
SSE offers several key benefits to both social enterprises and investors alike. It provides improved market access, facilitating the flow of capital to organizations dedicated to social impact. This, in turn, fosters a synergy between investors/donors in achieving their shared social aims. Additionally, the SSE serves as an avenue for social enterprises to raise funds and gain visibility, ultimately contributing to the growth and sustainability of their impactful initiatives.
Through this listing, Unnati Foundation seeks to raise 2 crores, a move that will directly impact the lives of 10,000 young individuals in their final year in government colleges. The impact primarily falls into three key areas: job creation, self-employment, and higher education, with an estimated 60% of the youth set to benefit significantly.
Through this listing, Unnati Foundation seeks to raise 2 crores, a move that will directly impact the lives of 10,000 young individuals in their final year in government colleges. The impact primarily falls into three key areas: job creation, self-employment, and higher education, with an estimated 60% of the youth set to benefit significantly.
SGBS Unnati Foundation, Director, Ramesh Swamy said, “Becoming the first NGO to list on NSE and BSE's Social Stock Exchange marks a significant step. It demonstrates our dedication to transparency and accountability, addressing donor mistrust within the NGO sector. The SSE listing mandates rigorous audits to communicate the impact of our programs effectively, furthering our mission for social transformation."
"We extend our heartfelt gratitude to the pro bono support team that made this listing possible, including Trilegal for legal expertise, Unitus as our issue advisors, and Bigshare as our RTA", added Ramesh Swamy.
The SGBS Unnati Foundation, Director, Narayanan AS said, "Unnati's free UNXT program, supported by corporate CSR initiatives, delivers 165 hours of training in rural areas at just Rs. 2,000, demonstrating our unique cost-efficient model and unwavering commitment to youth impact."
