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NGO Unnati to raise ₹2 crore via listing
Mint Mumbai
|October 31, 2023
Bengaluru-based SGBS Unnati Foundation (SUF), a non-profit organization, aims to raise ₹2 crore from high-net-worth individuals (HNIs) by being the first NGO to list on India’s Social Stock Exchange (SSE). The NGO will look at zero coupon bonds to attract investment from foundations and HNIs tilting towards social impact causes.
“The HNI community have said that this listing should happen in India. There are people who want the Social Stock Exchange to succeed," Ramesh Swamy, director SUF, told Mint on Monday. The NGO’s issue opened on Monday for seven days and is expected to get listed on 20 November.
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