Mumbai, April 6, 2024: Routes 2 Roots (R2R), a Delhi-based non-profit NGO dedicated to promoting art, culture, and heritage, has become India's first non-profit NGO in the field of art and culture to be listed on the Social Stock Exchange (SSE).
Rakesh Gupta, Founder at Routes 2 Roots, said, “Having been listed on the Social Stock Exchange signifies a new chapter in our journey towards fostering positive societal change through art and culture. We are thrilled by the support and enthusiasm of investors and remain committed to maximizing our impact for the betterment of society.”
This achievement marks a crucial step forward in social impact financing and is expected to provide the much-needed push to clean funds and transparent investment practices for NGOs. R2R's listing on the SSE comes on the heels of its recent IPO, which saw overwhelming demand and was completely sold out in record time.
Ashish Kumar Chauhan, MD & CEO of NSE, extended heartfelt congratulations to the Routes 2 Roots Team. He stated, “NSE-listed companies have been agents of social impact through wealth creation, job opportunities, and overall economic growth through common person’s participation in the markets. 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.”
The SSE initiative aims to provide a platform for NGOs to raise funds in a transparent manner, to foster an ecosystem of responsible investing, and positive societal change. Introduced by SEBI in 2023, SSE holds immense potential to revolutionize social impact investing in India. With over 3.4 million non-profit organisations, the SSE can play a pivotal role in bridging the funding gap for these enterprises, enabling them to amplify their social impact. The dual disclosure framework of financial performance and the associated social impact metrics is expected to attract investors who are not only interested in financial returns but also in measurable social good.
Through its listing, R2R aims to amplify its impact and reach, ultimately contributing to a more inclusive and equitable society.
The event also played host to 25 school and college students who had been invited to attend the listing ceremony. It provided an excellent opportunity for imparting financial education and fostering a culture of responsible investing from a young age.
Held at NSE’s headquarters at Bandra Kurla Complex, Mumbai, the listing ceremony was telecasted online as well, on NSE and R2R’s social media channels, ensuring wide accessibility and participation from stakeholders across the nation.
The event witnessed the presence of esteemed guests from various fields as well, including Bollywood and music industry stalwarts such as renowned actor Juhi Chawla; Sitarist and Bollywood music director Asad Khan; Grammy Award winner and flutist Rakesh Chaurasia; Singer and National Award winner Javed Ali; Music director Ehsan Noorani; Bollywood singer and Padma Shri awardee Anuradha Paudwal; and Bollywood music director Joi Barua. Additionally, Sudipto Sen, the film director of "Kashmir Files," graced the occasion with his presence. The event also welcomed dignitaries from prominent organizations including MD of NSE, Singer and Dr R Balasubramanium, Chairman of NSE, representatives from NABARD, and SEBI.
The core aim of the initiative is to support the rehabilitation efforts in two vital border states, Himachal Pradesh and Uttarakhand, which have recently endured the devastating impact of floods and landslides. The raised funds will be directed toward the implementation of essential educational infrastructure, including the installation of smart panels, the integration of the NGO's cultural digital interactive program, and the distribution of K12 educational e-books. These interventions will be deployed across a hundred schools spanning all 25 districts in these states, thereby benefiting numerous students by providing them access to high-quality educational resources.
