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Mumbai/Delhi, Aug 2, 2024: Swades Foundation, a Not-for-profit dedicated to holistic rural empowerment founded by Zarina and Ronnie Screwvala has announced its ZCZP issue on the National Stock Exchange (NSE). The organisation sets a new benchmark for listings on the social stock exchange with the highest issue size and as the first to accept online applications via ASBA – a game-changer for democratizing donations.
The issue is now open until August 13, 2024, for online subscription.
The funds raised through this issue at Social Stock Exchange will support Swades Foundation’s impactful programs, including sustainable livelihoods through goat rearing (empowered 17,000+ entrepreneurs); health and hygiene initiatives (provided 31,000+ households with individual toilets and promoted open-defecation-free living); and youth education and employability programs (equipped 6,249 youth with employment skills and placed 5,379 in formal employment) – numbers indicate impact until Feb ’24.
These programs aim to create a lasting difference in the lives of rural communities, enabling them to lead dignified and sustainable lives and livelihoods. Over the past 11 years, Swades has reached out to 3,310 hamlets in Raigad and Nashik districts of Maharashtra, with an estimated population of 1.1 million.
“This is an incredible effort on part of the government to institutionalise giving back to society – first with the CSR Act and now this. The SSE with its level of diligence for a listing and the subsequent reports of fund utilization (for the donors) will extend a lot of transparency and credibility to the sector, which will continue to encourage a lot of new retail donors. We’re very happy that Swades is able to participate in this pioneering effort,” said Ronnie Screwvala, Co-Founder, Swades Foundation.
Shri Ashishkumar Chauhan, MD & CEO, NSE stated, “Social Stock Exchange (SSE) of NSE is pleased to witness a growing traction by Non-Profit Organisations (NPOs) for fundraising for their projects. Our 10th listing of Swades Foundation is raising INR 10 crore which is nearly equal to the first 7 issues combined and is a testament to growing interest and trust being shown by NPOs and donors on NSE SSE platform. This project aims to provide education, skilling & employability to rural youth. This initiative is in alignment with the Union Budget’s strategic focus on skilling and providing employment opportunities for the youth to enhance the economic landscape.”
