Routes 2 Roots listed on NSE's Social Stock Exchange

PTI | Mumbai | Updated: 03-04-2024 22:45 IST | Created: 03-04-2024 22:45 IST
Routes 2 Roots listed on NSE's Social Stock Exchange
  • Country:
  • India

The NSE's Social Stock Exchange on Wednesday announced the listing of sixth non-profit organisation, Routes 2 Roots, on its platform.

The Delhi-based non-profit organisation became the first art and culture NGO to be listed on the Social Stock Exchange (SSE).

A SSE allows listing of social impact organisations (nonprofit and for-profit) on stock exchanges that provide an alternative fund-raising structure.

The listing has raised fund of Rs 1 crore which will enable Routes 2 Roots to implement a free digital teaching programme on Arts, Culture and Heritage in 100 schools in Himachal Pradesh and Uttarakhand by providing Smart Classroom Equipment, Musical Instruments, Training to teachers and maintenance.

''With the listing on SSE, the impact is going to increase manifold. This framework offers several advantages such as Transparency, Trust, Efficiency, Cost Saving, Discoverability, Impact Measurement and Outcome Based Philanthropy,'' National Stock Exchange's (NSE) MD & CEO Ashishkumar Chauhan, said.

He also gave a special mention to Sebi that played a pivotal role in launching the Social Stock Exchange framework in India.

The NSE-SSE platform continues to grow and it already has 58 registered NPOs. Among these, seven NPOs have successfully raised more than Rs 10 crore.

The platform remains committed to bridging the gap between the financial markets and social welfare objectives, bringing about inclusive growth and financial empowerment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback