Mumbai, April 1 Friends Union for Energising Lives (FUEL), a non-profit organization, announced on Wednesday that its ZCZP instruments have been listed on the NSE's Social Stock Exchange.
This milestone marks the beginning of the next phase in FUEL's mission to empower underserved youth across India, FUEL said in a statement.
FUEL also announced its Social Stock Exchange (SSE) issue, aimed at providing scholarships for underserved girls and first-generation learners.
The Zero Coupon Zero Principal (ZCZP) issue of FUEL was open for subscription on the NSE's Social Stock Exchange from March 11-23 to raise Rs 1 crore.
ZCZP bonds are the funding instrument for NGO projects; no principal or interest payments are required even after their completion.
The funds raised by FUEL will support scholarships, digital, and life skills training, workforce integration initiatives, and entrepreneurship guidance for students and adults from economically disadvantaged backgrounds.
An SSE allows listing of social impact organizations (non-profit and for-profit) on stock exchanges, providing an alternative fundraising structure.