Delhi-based non-profit organisation Routes 2 Roots (R2R) on Tuesday said it has launched an initial public offering (IPO) to raise Rs 1 crore for providing educational tools in flood-hit areas of Himachal Pradesh and Uttarakhand.
The issue will be listed on NSE's Social Stock Exchange (SSE).
This will be an important entry in the newly created SSE where zero coupon zero principal (ZCZP) instruments have been introduced for non-profit organisations (NPOs), the NGO said in a statement.
The IPO invites a minimum subscription of Rs 2 lakh and then in multiples of Rs 50,000 from corporates, business houses, firms and institutions. This IPO is not for individual investors.
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The primary objective of this offering is to aid the recovery of two critical border states, Himachal Pradesh, and Uttarakhand, which have recently faced the brunt of floods and landslides. The funds raised will be utilised to install smart panels, NGO's cultural digital interactive programme and K12 educational e-books in schools across these states in all the 25 districts.
This will benefit lakhs of students in getting quality educational tools at par with any other public school.
"At R2R, we are committed in our mission to foster inclusive and peaceful co-existence. We firmly believe in leveraging culture and education as powerful tools for positive societal change," said Rakesh Gupta, Founder, Routes 2 Roots.
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Founded in 2004, Routes 2 Roots has established itself as a leader in the non-profit sector, diligently working to disseminate culture, art, and heritage across India and beyond.
The NGO, through its 'Digital Learning of Performing Arts' programme initiated in 2016, provides free live interactive classes encompassing 20 disciplines of Indian art, culture, and heritage.
Its daily real-time free classes reach over 24,000 schools and colleges. Besides, the organisation also conducts yearly physical workshops, competitions, and integrates artificial intelligence into its educational initiatives.
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