Educate Girls debuts on the Social Stock Exchange with Issue Opening
MUMBAI, India, March 13, 2024 /PRNewswire/ -- Educate Girls, a leading non-profit focussing on mobilising communities for girls' education in India's remote and rural areas, is now registered on the National Stock Exchange (NSE) under the Social Stock Exchange segment (SSE). The NGO opened its Zero-Coupon, Zero-Principal (ZCZP) bond issue for Rs 1.3 crores on March 12, 2024.
Led by the Hon'ble Finance Minister, with an intent of making capital markets accessible to the masses and meeting developmental goals, the Social Stock Exchange aims to be a holistic one-stop platform where credible social enterprises with systemic capacity to create measurable social impact are listed. A Social Stock Exchange allows listing of social impact organisations (nonprofit and for-profit) on stock exchanges that provide an alternative fund-raising structure.
Through the funds raised on the Social Stock Exchange, Educate Girls plans to improve enrolment and retention and enhance the learning outcomes in Hindi, English, and Mathematics for over 7,000 marginalised children over 12 months. These children are from some of the most rural, remote, and educationally backward villages of Bahraich district, located in the north-eastern region of Uttar Pradesh at the Indo-Nepal border.
Speaking on the issue opening, Maharshi Vaishnav, CEO of Educate Girls, said, "India stands out with its Social Stock Exchange, thereby bridging the gap between social enterprises and impact investors. The Social Stock Exchange offers an unprecedented avenue to fundraise for nonprofits, which typically struggle to raise funds. Simultaneously, it can potentially become the go-to platform for investors seeking social ventures that drive positive, sustainable social change. We are excited about the prospect of Educate Girls becoming one of the first few NGOs to be part of India's social impact revolution, and we are highly optimistic that this will create an ecosystem that cultivates inclusion and impact."
Gayatri Nair Lobo, CEO, A.T.E. Chandra Foundation, said, "Congratulations to Educate Girls on opening their issue on the Social Stock Exchange. I have long admired their commitment to ensuring access to education for girls across regions with high dropout rates. Their strong focus on outcomes and how effectively they have mobilised the communities they work with makes their model sustainable. We are extremely happy to be able to support their listing."
"We are thrilled to support Educate Girls in their fundraising journey through the new Social Stock Exchange mechanism. Not only does their mission deeply resonate with us, we also hope that they will pave the way for the entire not-for-profit sector in India to embrace the Social Stock Exchange as an alternative fundraising route," said Viraj Joshi, AVP at Zerodha.
The ground-breaking initiative of the Social Stock Exchange democratises national development. Allowing everyone to participate empowers a collective investment in India's growth story. Human capital development is the cornerstone of nation-building, and girls are at the centre.
About Educate Girls
Educate Girls is a non-profit that collaborates with State Governments and mobilises village communities to ensure that all girls are in school and learning well. Aligned with the 'Right to Education Act' and 'Beti Bachao Beti Padhao,' Educate Girls currently operates in over 20,000 villages of Rajasthan, Madhya Pradesh, Uttar Pradesh, and Bihar. Since 2007, in partnership with State Governments, Educate Girls has mobilised over 14 lakh girls for school enrolment.
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